Following the technical recession that South Africa entered into in the first quarter of 2017 and the revised expected GDP growth for 2017 down from 1% to 0.5%, the South African Reserve Bank surprised markets with an interest rate cut on Thursday. This will bring some needed relief to may South Africans in debt as they will now have a little extra cash to spend each month. The prime lending rate has resultantly dropped from 10.5% to 10.25%.

The slow economic performance is placing many consumers under increased pressure and may have put their home ownership aspirations on the backburner for the time being. We have noticed a slowdown in the sales market with properties remaining unsold for longer, our stock levels have risen slightly and price growth is slower. ...