News Formal

Rent or buy? Residential property market shifts as rate hikes continue | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 80%

France Nouvelles Nouvelles

France Dernières Nouvelles,France Actualités

Property data shows a shift in the local housing market as rising interest rates are impacting affordability and, therefore, forcing more prospective homeowners to opt for renting instead. | News24_Business

It shows the rental market has continued on a gradual recovery path. Rental vacancy rates have slowed from 13% during the pandemic to 7.8% in the third quarter of 2022. However, vacancy rates remain above the pre-pandemic average of 5.3% between 2017 and 2019.

Rental inflation increased by 2.8% year-on-year in the third quarter of 2022, up from what FNB calls"a trough" of 0.6% in the first quarter of 2021. "The pace of [rental] recovery is still constrained by weak employment growth and a rising cost of living. While demand is improving, there is still excess supply in the market. This is reflected by the declining average real rental rate, as well as above-average vacancy rates," states the FNB barometer report.

According to Samuel Seeff, chair of the Seeff Property Group, semigration and a return of tourism have also boosted rental demand.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 4. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

From doctor-vouchers to R11 000 surgeries: Netcare has big plans for new business | BusinessNetcare has rapidly expanded NetcarePlus, adding vouchers for dental care and optometry, as well as gap cover, trauma cover and all-inclusive planned surgery vouchers. | News24_Business
La source: News24 - 🏆 4. / 80 Lire la suite »

18 haunting images capture Cyprus' divided border that's effectively frozen-in-time | Business InsiderThe United Nations Buffer Zone has cut straight through Cyprus for nearly five decades, freezing the location in time.
La source: BISouthAfrica - 🏆 34. / 51 Lire la suite »