TMCNet:  Property prices show positive growth [Daily News (South Africa)]

[March 18, 2014]

Property prices show positive growth [Daily News (South Africa)]

(Daily News (South Africa) Via Acquire Media NewsEdge) Property prices showed positive growth last month, bond originator Ooba said yesterday.

"Ooba's average purchase price recorded for February was R958 048 - a 5.4 percent year-on-year increase and a month-on-month increase of 0.2 percent," said marketing manager Katherine Furstenburg.

The average purchase price for first-time buyers also showed positive year-on-year growth of 4.2 percent to R728 125.

The average approved bond size was 3.7 percent higher year-on-year and 1.2 percent higher month-on-month at R811 299.

The average approved bond size recorded for first-time buyers was R656 321, 2 percent higher year-on-year.

"In February, 52 percent of Ooba's total bond applications were from first-time buyers," said Furstenburg.

The average deposit last month was R146 749, 15.3 percent of the purchase price - a decrease of 5.6 percent month-on-month.

"All the metrics show continued positive growth as a result of lender and buyer confiden-ce," Ooba chief executive Rhys Dyer said. - Sapa Daily News (c) 2014 Independent Newspapers (Pty) Limited. All rights strictly reserved. Provided by, an company

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