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GOOD NEWS FOR HOMEOWNERS: INTEREST RATES REMAIN UNCHANGED

GOOD NEWS FOR HOMEOWNERS: INTEREST RATES REMAIN UNCHANGED

The Monetary Policy Committee (MPC) announced today that interest rates will remain stable at 8.25% (repo rate), leaving the prime lending rate at 11.75%. This comes as some much-needed relief as many debt holders are struggling to keep up with repayments, even at the current rates. Given that inflation increased to 5,4% in September from 4,8% in August, it is understandable that interest rates

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Installing Solar Power – what you need to know

Installing Solar Power – what you need to know

With the international trend towards renewable energy, folk are looking to solar power as an alternative to plugging into the main grid — especially in South Africa. If you are thinking of doing the same, then here’s what you’ll need to know… What is solar power? Solar effectively means from the sun, so solar power systems harness the light and heat energy that comes

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RE/MAX NATIONAL HOUSING REPORT Q3 2023

RE/MAX NATIONAL HOUSING REPORT Q3 2023

Market Adjusts to Higher Interest Rates The third quarter of 2023 produced a mixed bag of results for the local housing market. While overall performance is down year-on-year, there is minor improvement on the previous quarter’s results. According to Lightstone Property data, as at 04 October 2023, the number of transfers (both bonded and unbonded) recorded at the Deeds Office for the

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Installing alternative energy is about more than load-shedding

Installing alternative energy is about more than load-shedding

Installing alternative energy solutions is about more than managing the fall-out from load-shedding: by reducing our dependence on fossil fuels, we’re also doing our bit for the planet. In this article, we explore various options from which homeowners can choose and at the same time, potentially improve both your quality of life and the value of your property. What to consider when invest

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INTEREST RATES LEFT UNCHANGED AT LATEST MPC MEETING

INTEREST RATES LEFT UNCHANGED AT LATEST MPC MEETING

Debt holders can let out a sigh of relief as the Monetary Policy Committee (MPC) announced today that interest rates will remain stable at 8.25% (repo rate), leaving the prime lending rate at 11.75%. With inflation dropping to 4,7% in July, most economists predicted that interest rates would hold steady at this meeting. “The decision to keep interest rates stable is a reassuring outcome t

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The real cost of long-distance moving in South Africa

The real cost of long-distance moving in South Africa

A long-distance move is a complicated exercise, no matter whether you’re relocating for that dream job, retiring, or living out your dream of moving to the countryside. Probably the most critical of these complications is what it will cost you to make the move. To help you formulate a budget and a foolproof moving plan, we’ll take you through the possible charges for a long-distance mo

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The Basics of Capital Gains Tax for Homeowners

The Basics of Capital Gains Tax for Homeowners

When the selling price of the home is more than the price you initially paid for the home, you will most likely have to pay capital gains on that profit. What is capital gains? Well, simply put, Capital Gains Tax (or CGT) is a tax on the profit (income) you make when you “dispose” of a capital asset like a house. “Dispose” is a technical term for the transfer of ownership w

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DOWNSIZING YOUR HOME: THE BIG DECISION TO GO SMALL

DOWNSIZING YOUR HOME: THE BIG DECISION TO GO SMALL

Tiny homes are a growing trend – internationally and in South Africa. Although downsizing to a smaller house or apartment may not appeal to everyone, there may well come a time when downsizing just makes more sense. Maintaining a largely underutilised property doesn’t always make financial sense if the family has shrunk and the children have fled the nest. With the increasing cost of l

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INTEREST RATES FINALLY STABILIZE

INTEREST RATES FINALLY STABILIZE

Some good news for debt holders as the Monetary Policy Committee (MPC) announced that interest rates will remain stable at 8.25% (repo rate), leaving the prime lending rate at 11.75%. This ends the consecutive hiking cycle that started in November 2021. Pleased by this announcement, Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett says that an increase might have been in t

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Paying Off Your Home Loan Faster: a Guide for Homeowners

Paying Off Your Home Loan Faster: a Guide for Homeowners

Are you interested in exploring the potential for paying off your home loan early? We’ve prepared a set of strategies to help you pay off your home loan faster... Why should you pay off your home loan faster? Owning a property is a significant milestone, but the long-term commitment of a loan can be daunting. You can potentially eliminate years’ worth of debt by paying even a lit

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CONSUMERS FEEL THE PINCH AS INTEREST RATES RISE AGAIN

CONSUMERS FEEL THE PINCH AS INTEREST RATES RISE AGAIN

Debt holders are sure to feel the pinch following the latest announcement by the Monetary Policy Committee (MPC) to increase the repo rate by a further 50 basis points to 8.25%, leaving the prime lending rate at 11.75% – the highest it has been since 2009. Unsurprised by this announcement, Regional Director and CEO of RE/MAX of Southern Africa Adrian Goslett says that managing debt will b

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Working out the interest on my home loan

Working out the interest on my home loan

In South Africa, interest rates can fluctuate from time to time. It is important to know what this means for your monthly expenses, especially for the big-ticket items like home loans, vehicle finance agreements and credit cards. What is interest? Before we look at how to calculate the interest you pay on a loan, let’s understand what “interest” means. In general terms,

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