PROPERTY: Unchanged repo rate brings market stability, but be cautious – estate agent

702 and CapeTalk’s Africa Melane speaks with Rasibe Maapola, an estate agent from Lesso Estates.

Maapola recommends that buyers “tread carefully” despite the South African Reserve Bank keeping the repo rate unchanged. 

RELATED: Kganyago keeps interest rate unchanged, citing extreme levels of uncertainty in world economy

For buyers, affordability remains tight, and borrowing is still expensive.

“Banks are not loosening up their lending criteria, they are still competing harder for quality borrowers (the buyers).”

– Rasibe Maapola, estate agent, Lesso Estates

For sellers, demand is stable but price sensitivity remains high. 

RELATED: Property tips: How to price yours right

“We need to be realistic when we price our property, the pricing is crucial. A steady market but expect slower sales, unless pricing is [more] realistic.” 

– Rasibe Maapola, estate agent, Lesso Estates

Scroll up to the audio player to listen to the discussion