ooba Home Loans

The national housing market's recovery continued into the new year, with the average purchase price reaching R1.67 million in Jan '25—up 4.7% from a year earlier. First-time buyers saw a similar rise, with prices increasing to R1.26 million in Jan’25, up 5.9% on Jan’24’s average purchase price.  As always, prices varied across SA’s diverse regions, influenced by local economies, demographics, and property demand. The Western Cape, driven by strong semigration demand, remains the only region above the R2 million mark, at R2.26 million in Jan’25. In contrast, Gauteng South & East remains one of the most affordable markets, with Jan’25’s purchase price averaging R1.09 million. Our reports leverage Lightstone and ooba Home Loans market data, featuring in-depth analysis from our in-house economist. #oobahomeloans #southafrica #PropertyMarketInsights #RealEstateTrends #MarketAnalysis

Over the past decade, bond applications for holiday homes have typically accounted for just 0.3% of the total received. However, in the wake of recent interest rate cuts, a softening in price pressures and improved sentiment, applications doubled to 0.6% of applications in Jan’25 – the highest level registered since early 2017. The increase was driven by increased demand in the popular coastal towns of the Eastern Cape, where a total of 4.4% of all applications received last month were for holiday homes. This was followed by the Western Cape at just 1.0% of total applications.         Our reports leverage Lightstone and ooba Home Loans market data, featuring in-depth analysis from our in-house economist. #oobahomeloans #southafrica #PropertyMarketInsights #RealEstateTrends #MarketAnalysis

National demand for investment/buy-to-rent properties accelerated noticeably after the pandemic, rising from around 5% of total applications received before 2020 to a high of 15.1% in Dec’24. This compares to the previous high of 14.8% registered in Dec’23. Investment demand accounted for 12.6% of all applications received last year, up from an average of 10% in 2023.  Last month’s robust investment demand was almost entirely attributable to the Western Cape, where 38.8% of all applications received in Dec’24 were for investment properties. More recently, the Eastern Cape has also seen an increase in investment demand – rising from 3.8% of all applications in Q2’22 to a high of 20.0% in the final quarter of last year. The Eastern Cape is also currently the region with the strongest demand for holiday homes. Demand for investment properties is not limited to older, more affluent homeowners, with demand growing among first-time buyers since the pandemic. Investment applications have doubled from just 5% of all first-time buyer applications in the four years prior to the pandemic to 10.2% last year – as young buyers opt to gain a foothold in the property market while remaining tenants themselves. #oobahomeloans #southafrica #PropertyMarketInsights #RealEstateTrends #MarketAnalysis

🚀 Tune in! Our Regional Sales Manager, Natasha Champion, will be on Hot FM with Jeremy Maggs discussing the latest Oobarometer stats! 📊 📅 Date: 4 February 2025 ⏰ Time: 12:50 - 13:20 📻 Station: Hot FM Get the latest insights into the property market—don’t miss out! 💡🏡 #Oobarometer #RealEstateInsights #PropertyMarket #OobaHomeLoans

Fantastic news!  #oobahomeloans #homesweethomeloan #realestate

Renewed Confidence in the Property Market!  Sales activity has risen by 15.2%, led by strong demand from first-time homebuyers and increasing interest in investment properties.  #propertymarket #firsttimehomebuyers #realestate #oobahomeloans

Both headline and core inflation below expectations in Dec’24 The new US administration dominated the news cycle this week, while subdued local inflation bodes well for another rate cut next week. Consumer inflation rose to 3% in Dec’24 while core inflation (ex food & energy) eased to 3.6%. Both were below expectations and suggest a further 25bps rate cut is likely at the MPC next week. Inflation looks set to remain subdued this year – remaining below the 4.5% mid-point for much of the year - although numerous upside risks remain. The flurry of executive orders from the White House have thus far excluded any concrete decisions on trade tariffs, while a weaker dollar and softer oil prices – the latter after promises to “drill baby drill” – bode well for local price pressures. Markets continue to scale back expectations of both the extent and timing of US rate cuts this year, with the first cut unlikely to materialise until mid-2025. Week ahead: Local releases scheduled next week include producer inflation, the leading indicator and trade balance. Both the Fed and the Reserve Bank are scheduled to announce interest rate decisions.

Explore this week's developments in property trends and insights. Our reports leverage Lightstone and ooba Home Loans market data, featuring in-depth analysis from our in-house economist. #oobahomeloans #southafrica #PropertyMarketInsights #RealEstateTrends #MarketAnalysis

Explore this week's developments in property trends and insights. Our reports leverage Lightstone and ooba Home Loans market data, featuring in-depth analysis from our in-house economist. #oobahomeloans #southafrica #PropertyMarketInsights #RealEstateTrends #MarketAnalysis

Explore this week's developments in property trends and insights. Our reports leverage Lightstone and ooba Home Loans market data, featuring in-depth analysis from our in-house economist. #oobahomeloans #southafrica #PropertyMarketInsights #RealEstateTrends #MarketAnalysis