How is your homeloan?

By Staff Writer

The housing market has also been feeling the effects of the recession. House prices have been dropping there have been repossessions; people are selling their houses and downgrading to meet their repayments. Property over time is a great investment but the recession has taken a chunk of value, and even if you are feeling the pressure now and feel desperate to sell the market is not set to maximise your sale price. So when will it look up again?

 

  • ABSA says low point was April
  • Recession may still affect prices
  • ABSA figures show 3.4% increase

 

ABSA runs a house price index and they released their latest figures recently. Their research shows that there has been an increase in house prices since the low in April, but with large static assets like houses the effects of an economic downturn will take time to manifest themselves. There may still be pressure on homeloans still to come. A homeloan specialist can try to get a better rate for you so that you can take a bit of pressure off of your repayment commitments.

The economic recession can't be predicted, what can be done is to track it as it happens and then take best guesses at when it will come right again. The economy is an incredibly complex system and interdependent on its components. House prices will rise again but in the meantime contact a homeloan specialist and check if you could be saving on your bond as you won't get top price from selling your house now.

Recent Articles

Featured More than just selling – being an entrepreneur at a market

It only takes a couple of seconds for Sheryl Ozinsky, co-founder of the Oranjezicht City Farm (OZCF) Market, to tell whether an entrepreneur will succeed as a local trader. By looking at their body language, she immediately gets a sense of whether they’re going to engage well with their clients and handle the demands of trading at a market.

Read more

22seven: Worth a try?

We live in an era where there is an app for everything. From monitoring your heart rate and menstrual cycle to tracking your sleeping habits and your monthly budget. While this may seem invasive being made aware of your spending habits and where you may be overstepping your budget, it is the best way to rectify and cultivate better financial health.

Read more

My two cents on the Nedbank MobiMoney account

In November last year Nedbank, launched a mobile account called MobiMoney. This account is similar to one of its existing accounts called Send Imali.  However, it’s not only limited to existing Nedbank clients. 

Read more

The cost of being sick in South Africa

Finding affordable healthcare in South Africa is possible, but it comes with its own challenges. Justmoney contacted 13 doctors in Cape Town to find out how much an appointment costs. We also found out how medical schemes assist with these costs, and we compared South Africa with its BRICS counterparts.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Obz Cafe Cocktail Special

Price: R55-R59
When: Tuesdays-Fridays
Where: Cape Town

Telkom January Big Deal

Price: R807 pm
When: Until 31 January
Where: Nationwide

Planet Fitness Special

Price: R199
When: Daily
Where: Nationwide