ooba Home Loans’ Chief Operating Officer outlines a significant opportunity for homeowners in South Africa.
Although the economy in South Africa is under pressure, there are encouraging developments for those looking to buy a home, particularly for those who are purchasing for the first time.
The CEO of Ooba Home Loans breaks down property advancements in new hotspots.
Ooba CEO believes that slow house price growth is good news for first-time buyers.
Due to the high-interest rate environment, South African banks are offering competitive pricing on home loans
The national average purchase price for the property in Q1 2023 has only increased by 0.8% from Q4 2022.
The latest data from property group Ooba shows that there are significant shifts within the residential property market in light of South Africa's unique economic outlook.
While national house price inflation remains positive, the national average purchase price is down among first-time homebuyers in South Africa, says Rhys Dyer, the CEO of property group Ooba.
The has been a sharp rise in the average purchase price over the last few years as a result of the impact of aggressive interest rate cuts in the early months of the pandemic and competitiveness among financial institutions, says…
Home buying statistics indicate that putting down a deposit is becoming less of a priority to South African homebuyers – a trend that may be to their own detriment, says Buyers Trust, a subsidiary of home loan specialist Ooba Group.
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