Betterbond Property Brief
Category News
October 2023 Property Brief from Betterbond
In their October update, BetterBond, South Africa's premier bond originator, identified KwaZulu-Natal as the region with the highest performance in the initial month of the new fiscal year and delved into the factors influencing economic growth and property purchases in this sought-after province.
National Trends in Home Buying
Expanding beyond KwaZulu-Natal, Betterbond also examines property transactions across South Africa, with a specific focus on the behaviour of first-time homebuyers. They also offer encouraging information about the uptick in registrations at the Deeds Office.
Vital Metrics in the Property Landscape
Pay close attention to several crucial metrics in this Property Brief, including the total number of home loan applications submitted, the average purchase price of homes, and the typical value of approved home loans.
These numbers are broken down by region to provide a more nuanced view. They also reveal the percentage of applications from first-time buyers and the distribution of approved home loans to this demographic across different regions.
The Economic Perspective: Exchange Rates and Inflation
Within the Economist's Notes context of the Brief, they analyse how the South African Rand competes against major global currencies. Exchange rates significantly affect the cost of imported goods, which, in turn, influences domestic inflation. This is an essential consideration for the Reserve Bank when setting interest rates.
Overall - October's Property Brief serves as a comprehensive guide to understanding regional trends, national real estate market shifts, and broader economic implications. Enjoy the read - and download the full version here.
Author: Betterbond