Message from the MD - April 2024
Category Newsletter: Message from MD
As has become the norm over the past few years, many South Africans living in Gauteng took full advantage of the long Easter weekend to travel away from the major cities and the N1 and N4 were frequently congested. There were even reports of several toll gates being opened on occasions to allow for the free flow of traffic and shorten the long traffic queues.
Now Easter is behind us and with most Gauteng schools reopening this week we can expect things to return to normal within the economic hub of the country.
Unfortunately, statistics released late last month indicated that our inflation rate has once again increased by two basis points taking it to 5.6%. This has prompted our Monetary Policy Committee to leave our repo rate unchanged at 8,25%, and it seems that consumers will have to wait a bit longer before they can expect any reductions to this.
However, the property market is showing resilience in all sectors with office space the only one lacking behind. I believe it will still take some time before this segment recovers fully but saying that, there are some great buys out there for companies who would like to acquire their own personal office space. With limited office space being developed in Gauteng it will not take too long for demand to outstrip the supply , bringing balance to the market once again.
Author: Nico Louw
