MD's Message - Feb 18
Category Newsletter: Message from MD
Dear Friends, Property Investors and Enthusiasts,
2018 is well and truly on its way! Since my previous newsletter the ANC have elected a new president who will most probably also serve as the country’s next president. He definitely has his work cut out for him as all South Africans are looking to him for positive change!
During January the Reserve Bank’s Monetary Policy Committee took a bearish stance on the repo rate by keeping it unchanged at 6,75%. This came as a surprise to a large sector of the property industry as a 25 basis point reduction was expected. The Committee’s decision was mainly based on the uncertain economic times we are currently experiencing. However, this being said, the Rand has recently strengthened against most of the major currencies and is enjoying the best rate against the Dollar in years. Hopefully this is a sign that our economy will soon be moving in the right direction! This would certainly benefit our commercial and industrial sector which is still under strain and as yet not showing any signs of improvement.
But… we have already noticed an increase in activity in both residential rentals and sales and have been fortunate enough to fill 459 rental properties over the past 3 months!
Author: Nico Louw
