Standard Bank lends R31-billion for homes

According to Funeka Ntombela, head of home loans at the bank, says that the number of mortgage applications processed last year increased by 71% last year. He says that low levels of lending by banks are depressing prices in the local property market.

Standard Bank says the outlook for the property market remains flat because the lack of lending is depressing property prices and placing additional risks on high value homes that are more difficult to sell.

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