There is a lot of press around lately about signs of SA residential property showing improvement . A leading banker stated he sees "light at the end of tunnel with no train insight". Certainly things have started to improve and many bankers do expect a dramatic turn around early 2010.
Falling property prices, lower interest rates and most importantly relaxed lending criteria have all contributed to this. Standard Bank now offers 100% home loans and Absa Bank 95%.
However, the South African consumer is still suffering the aftershock of the credit crunch. The Eskom power crisis with expected electricity tariffs increasing by 45% year on year is sure to dampen the mood of South Africans in 2010.
To find out what is actually happening on the local property front I will be speaking to Ronell Beredford on Wednesday at 17:15 pm.
