In the current unstable economic climate, even experienced buyers may require some help determining their current financial standing when buying property...
The July statistics released by ooba show that whilst the trend of positive year-on-year growth in the property market continues, the pace of growth is slowing down.
House prices continued to show a moderate year-on-year growth of 3.8% to R854 740 in October, according to the latest statistics from ooba, South Africa's biggest bond originator.
The latest statistics from ooba bond originator show a marginal year-on-year house price growth of 0.7% to R836 055 in August 2012 and a month-on-month decline of 1.3% from R846 863 in July 2012.
Statistics from BetterBond, which represent 25% of all residential mortgage bonds being registered in the Deeds Office, indicate that almost half of all home loan applications are now being made by black buyers, compared with only about 12% a decade ago.
South African banks are focusing on providing finance for the affordable housing market and Mail & Guardian reports that there has been a migration from renting accommodation to buying property, implying that the affordable housing sector could soon be booming.