Ensure that your home is ready to sell in 2020

Writer: Stephen de Stadler Managing Director Fine & Country Hermanus, Arabella and Kleinmond

We were greeted with a pleasant surprise last week. The Reserve Bank announced an unexpected 25 basis point reduction in the repo rate, which will translate to a reduction in the prime lending rate of all the significant banks in South Africa by the same amount.

The theory is that the reduction in the cost of lending will encourage consumers to either borrow more or have more money available for spending, which in turn translates to economic growth in the medium to longer term.

We refer to the reduction as unexpected, because most economic commentators predicted that the Reserve Bank would wait at least another quarter before reducing rates again. We certainly hope that the rate reduction will have the desired effect and continue to stimulate what is undoubtedly a more active local residential property market (when compared to the last quarter of 2019).

Let’s therefore get our own backyard in order, as it were, and prepare our homes for some active and exciting selling in 2020.

Click below to read more. (The full article can be found on page 20)