News Formal

Fewer first-time home buyers as high interest rates hit property market - Ooba

  • 📰 ewnupdates
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 53%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

Regional sales manager at Ooba Home Loans, Natasha Champion, says the property market has seen a decline in first-time buyers as high interest rates spook consumers.

The reserve bank recently hiked the repo rate to 8.25%, pushing the prime lending rate up to 11.75%.

The changes in the interest rates have increased the price of loans, especially for home and car owners."There's no doubt about it. We've had so many blows in terms of interest rate hikes, that we're all seeing stars. So, anyone that's currently linked to any interest-sparing debt, that's definitely a challenge. People are feeling it in their pockets.""We have seen a year-on-year 20% reduction in our volumes.

 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 30. in RU

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Former Prasa chair moves out of company-owned luxury home after exposéLeonard Ramatlakane, the former chair of the Passenger Rail Agency of SA (Prasa), moved out of a posh property belonging to the struggling state-owned entity in March
Источник: SowetanLIVE - 🏆 13. / 63 Прочитайте больше »