Sales spike follows rate rise

Despite all the gloomy predictions about property sales falling off after interest rates were increased in January, the move by the Reserve Bank to shore up the value of the rand actually seems to have brought about an increase in home buying activity, especially at the lower end of the market.

Thats the word from Berry Everitt, MD of the Chas Everitt International property group, who says: We have been saying for some while that prospective buyers should not be sitting on the fence and trying to time a perfect entry into the market, but should make a purchase as soon as possible, and this interest rate increase seems to have prompted many to do just that.

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