After enduring a trying decade under the mismanagement and malfeasance of Jacob Zuma, South Africa enters the new year in a better place than 2019, economically and politically.

Sub-1% economic growth insufficient to curb vacancy rate rise and unlikely to prop up real property values at recent levels'.

Fourth quarter (Q4 19) statistics released by ooba, South Africa’s leading home loan comparison service, show minimal growth of 1.8% in the Average House Price year-on-year from Q4 18 to Q4 19. The Average Purchase Price of First-time Buyers performed marginally better, up 2.5% for the same period.

Local cement manufacturers are being severely undermined by cheap imports from countries such as China, Vietnam and Pakistan.

The Reserve Bank has reduced the repo rate by 25 basis points to 6.25% in line with market expectation.

Against the backdrop of a persistently sluggish economy, subdued market confidence and lower-than expected inflation.

This week’s SARB interest rate decision not expected to change property market conditions meaningfully.

Signs that the residential property market is beginning to stabilise.

Easing lending conditions supportive of purchasing activity.

 South African Reserve Bank Governor Lesetja Kganyago on Thursday said this is in line with market expectation.