John Loos says rate cut provides welcome relief
             

JOHANNESBURG (February 05) – The SARB Monetary Policy Committee (MPC) took the decision to reduce its policy repo rate by 100 basis points today, from 11.5% to 10,5%, which should imply a drop in prime rate from 15% to 14%. 
This, says Johh Loos, Property Strategist [...]

The Minister of Finance today delivered his Budget Speech reconfirming government’s continuing commitment to disciplined fiscal policy and announced various changes to budget allocations.
For the taxpayer-man-in-the-street, the most relevant of these are:

The threshold below which no income tax is levied for people under the age of 65 is raised to R54 200 and for people [...]

– Activity levels decline further but agent confidence improves on the back of declining inflation and interest rate risks
 
SUMMARY
FNB’s Residential Property Barometer for the third quarter reflected further deterioration in the market.
 
The Barometer is a survey of estate agents in major property regions, in which they are asked to provide an indication of demand [...]