Real estate market is starting to recover - BetterBond CEO
Loading player...
GUEST – Bradd Bendall - CEO of BetterBond
Although the interest rate has been at a 10 year high of 11.75% for two years, there are indicators that the real estate market is starting to recover. This is according to the most recent BetterBond Property Brief for April 2024, which shows a 7.8% increase in bond applications over the first three months of the year despite the highest interest rates levels since 2014. House prices have also recovered, with year-on-year inflation rates for first-time and repeat buyers hitting their highest levels since the SA Reserve Bank began raising interest rates at the end of 2021.
Although the interest rate has been at a 10 year high of 11.75% for two years, there are indicators that the real estate market is starting to recover. This is according to the most recent BetterBond Property Brief for April 2024, which shows a 7.8% increase in bond applications over the first three months of the year despite the highest interest rates levels since 2014. House prices have also recovered, with year-on-year inflation rates for first-time and repeat buyers hitting their highest levels since the SA Reserve Bank began raising interest rates at the end of 2021.
