New Opportunities for First Time Buyers

With the new year comes new opportunities, and according to experts, first time buyers could take advantage of the market when looking at property in Midrand

Going through the newsreel on the Private Property website over 2018 would have showcased just how tough of a year it was for most consumers, but in a recent article they looked at some of the more positive points that indicate that 2019 could be the perfect time to look for property in Midrand, especially for first time buyers.

We are far from home and dry when it comes to the numerous issues that emerged during 2018, with political uncertainty and the tough economic conditions still causing concerns. But when looking at some factors in the property market, experts are predicting that the second period of 2019 could be ideal for first time buyers.

One of the major factors aiding this is the competitiveness between banks to make their home loans more affordable and accessible. This is best observed when looking at statistics from ooba, that show that the Average Deposit as a Percentage of Purchase Price has dropped by 20% year on year. This is quite a big deal for buyers, as it means that deposits have gone from 15.5% to 12% in the space of a year.