With interest rates at historic lows, a perennial oversupply of properties on the market, attractive pricing and more room for negotiation, the current housing landscape makes for an opportune time to consider either establishing or expanding one’s property portfolio.
knock in the past year because of the coronavirus pandemic, Siphamandla Mkhwanazi, senior economist at FNB, says housing markets remained relatively unimpacted. The bank saw robust growth in buying activity and house prices continued climbing.
Lower transfer duties and changing housing needs due to the pandemic also propelled the activity. However, it is worth noting that the strong levels of activity are driven mostly by first-time buyers with second-home buying activity remaining relatively unchanged in the past year.