Unemployment and interest rate hikes predicted to hit property market

Rising interest rates, as well as the precarious state of South Africa’s economy, may spoil the appetites of prospective homeowners who earlier in the Covid-19 pandemic would have enjoyed a vibrant market.

With inflation in South Africa and abroad remaining at elevated levels, central banks are bound to set monetary policy on the path towards normalisation in 2022. As the repo rate is lifted the cost of borrowing goes up and homebuyers end up paying more on their mortgages.

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Sarah Smit
Sarah Smit
Sarah Smit is a general news reporter at the Mail & Guardian. She covers topics relating to labour, corruption and the law.

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