The further increase of 75bps in the repo rate announced by the Monetary Policy Committee yesterday is disappointing for aspirant home owners requiring credit and existing home owners with mortgages, all of whom are already having to contend with the economic impact of severe load shedding, high fuel, and rising food costs, and increasing electricity and other municipal tariffs, says Dr Andrew Golding....
While many might have seen or heard that interest rates are climbing, equally as many will fail to fully understand exactly how this affects them, which means that they are unlikely to know how to adequately prepare if interest rates continue to climb....
Individuals who have not yet filed their income tax returns have until 24 October 2022 to do so. When it comes to tax deductions, homeowners are entitled to specific claims if they work from home or own a rental property that provides an income....
With the inflation outlook deteriorating since the previous Monetary Policy Committee meeting – with the headline inflation rate again breaching the upper limit of the 4-6% target for the second consecutive month at 7.4% in June 2022, it was inevitable that a decision would be taken to further increase the repo rate, the question was simply by how much....
The latest Africa Wealth Report for 2022 was recently published by New World Wealth and it reveals that much of the wealth still resides in the cities, particularly Johannesburg and Cape Town....
The global economy has been hit hard in recent months. Rising fuel prices, interest rates, and inflation levels have put a strain on households across the globe. South Africa will undoubtedly feel the effects, but experts feel confident that the local housing market will remain resilient against this challenging backdrop....
Investing in real estate remains one of the best ways to accumulate wealth, both in terms of appreciation in market value as well as generating a reliable monthly cash flow....
The Monetary Policy Committee (MPC) is set to meet again later this month and all signs point to yet another interest rate hike, with some even predicting a bump of 75 basis points. Experts advise South Africans to prepare themselves ahead of the July meeting to avoid falling behind on debt repayments....
One of the key shifts in the housing market triggered by the pandemic, was that many home buyers opted for a freehold home rather than a sectional title home in order to gain access to some outdoor space, as well as additional space in order to accommodate working from home....
Buying a property for investment purposes has grown in popularity over the years. This is due to a number of things including the popularity of homesharing and the growth of the rental economy, especially among the younger generations who don’t all wish to own assets, according to a Deloitte survey....