{"id":744,"date":"2015-08-20T11:54:24","date_gmt":"2015-08-20T11:54:24","guid":{"rendered":"https:\/\/propertyprofessional.co.za\/affordability-a-likely-stumbling-block-this-year\/"},"modified":"2023-05-18T15:24:52","modified_gmt":"2023-05-18T15:24:52","slug":"affordability-a-likely-stumbling-block-this-year","status":"publish","type":"post","link":"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/","title":{"rendered":"Affordability a Likely Stumbling Block this Year"},"content":{"rendered":"

In the final quarter of 2014 there were 6,07-million residential properties in SA with a combined value of R4,27-trillion. A third of these homes, valued at R2,25-trillion, were bonded, according to the latest Absa<\/a> Housing Review, which also shows that 3,36-million properties, valued at R2,02-trillion, were unbonded. Absa\u2019s house price data shows that nominal and real year-on-year house price growth was lower in most segments of the market in the first quarter of 2015 as compared with the same period a year ago. Household debt, food and electricity costs and rising petrol prices are all impacting on housing prices.<\/p>\n

Buyers have been warned not to be lulled into a false sense of security by the slowdown in property price growth, as rising interest rates are likely to have a big effect on affordability for first-time buyers. \u201cThe affordability of property is reflected in the ratios of house prices and mortgage repayments to household disposable income,\u201d says Mike van Alphen, national manager at Rawson<\/a> Finance, the Rawson Property Group\u2019s in-house bond originator. \u201cWhen house prices and mortgage repayments increase faster than disposable income, purchasing or paying off a property becomes much less affordable.\u201d<\/p>\n

Interest rates were left unchanged at the end of May, and this continues to provide some relief to residents with a mortgage. First-time homebuyers make up 25% of the market nationally, says Seeff<\/a> chairman Samuel Seeff. \u201cThe improved mortgage-lending landscape has greatly aided first-time buying,\u201d he adds. \u201cAccording to the Oobarometer,<\/a> the home loan application success rate is more than 75% and about 50% of these are first-time applicants.\u201d But mortgage interest rates are expected to rise from an average 9,25% to 9,5%, and this will affect affordability.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

In the final quarter of 2014 there were 6,07-million residential properties in SA with a combined value of R4,27-trillion. A third of these homes, valued at R2,25-trillion, were bonded, according to the latest Absa Housing Review, which also shows that 3,36-million properties, valued at R2,02-trillion, were unbonded. Absa\u2019s house price data shows that nominal and […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1224,1228],"tags":[308,261,309],"yoast_head":"\nAffordability a Likely Stumbling Block this Year - Property Professional<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Affordability a Likely Stumbling Block this Year\" \/>\n<meta property=\"og:description\" content=\"In the final quarter of 2014 there were 6,07-million residential properties in SA with a combined value of R4,27-trillion. A third of these homes, valued at R2,25-trillion, were bonded, according to the latest Absa Housing Review, which also shows that 3,36-million properties, valued at R2,02-trillion, were unbonded. Absa\u2019s house price data shows that nominal and […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Property Professional\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PropertyProfessional\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-20T11:54:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-18T15:24:52+00:00\" \/>\n<meta name=\"author\" content=\"Keenan Prinsloo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Keenan Prinsloo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/\"},\"author\":{\"name\":\"Keenan Prinsloo\",\"@id\":\"https:\/\/propertyprofessional.co.za\/#\/schema\/person\/22462ccece4a710f4b40653cf61024e4\"},\"headline\":\"Affordability a Likely Stumbling Block this Year\",\"datePublished\":\"2015-08-20T11:54:24+00:00\",\"dateModified\":\"2023-05-18T15:24:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/\"},\"wordCount\":286,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/propertyprofessional.co.za\/#organization\"},\"keywords\":[\"2015 finance trends\",\"home loans\",\"long-term budgeting\"],\"articleSection\":[\"Advice & Insight\",\"What is happening in the market?\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/\",\"url\":\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/\",\"name\":\"Affordability a Likely Stumbling Block this Year - Property Professional\",\"isPartOf\":{\"@id\":\"https:\/\/propertyprofessional.co.za\/#website\"},\"datePublished\":\"2015-08-20T11:54:24+00:00\",\"dateModified\":\"2023-05-18T15:24:52+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/propertyprofessional.co.za\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Affordability a Likely Stumbling Block this Year\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/propertyprofessional.co.za\/#website\",\"url\":\"https:\/\/propertyprofessional.co.za\/\",\"name\":\"Property Professional\",\"description\":\"The Voice of Estate Agents\",\"publisher\":{\"@id\":\"https:\/\/propertyprofessional.co.za\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/propertyprofessional.co.za\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/propertyprofessional.co.za\/#organization\",\"name\":\"Property Professional\",\"url\":\"https:\/\/propertyprofessional.co.za\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/propertyprofessional.co.za\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/propertyprofessional.co.za\/wp-content\/uploads\/2023\/10\/PP-logo.jpg\",\"contentUrl\":\"https:\/\/propertyprofessional.co.za\/wp-content\/uploads\/2023\/10\/PP-logo.jpg\",\"width\":636,\"height\":214,\"caption\":\"Property Professional\"},\"image\":{\"@id\":\"https:\/\/propertyprofessional.co.za\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/PropertyProfessional\",\"https:\/\/www.linkedin.com\/company\/property-professional-south-africa\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/propertyprofessional.co.za\/#\/schema\/person\/22462ccece4a710f4b40653cf61024e4\",\"name\":\"Keenan Prinsloo\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/propertyprofessional.co.za\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ec3e66e57f08097c230d6f8d1084f000?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ec3e66e57f08097c230d6f8d1084f000?s=96&d=mm&r=g\",\"caption\":\"Keenan Prinsloo\"},\"url\":\"https:\/\/propertyprofessional.co.za\/author\/prop-admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Affordability a Likely Stumbling Block this Year - Property Professional","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/","og_locale":"en_US","og_type":"article","og_title":"Affordability a Likely Stumbling Block this Year","og_description":"In the final quarter of 2014 there were 6,07-million residential properties in SA with a combined value of R4,27-trillion. A third of these homes, valued at R2,25-trillion, were bonded, according to the latest Absa Housing Review, which also shows that 3,36-million properties, valued at R2,02-trillion, were unbonded. Absa\u2019s house price data shows that nominal and […]","og_url":"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/","og_site_name":"Property Professional","article_publisher":"https:\/\/www.facebook.com\/PropertyProfessional","article_published_time":"2015-08-20T11:54:24+00:00","article_modified_time":"2023-05-18T15:24:52+00:00","author":"Keenan Prinsloo","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Keenan Prinsloo","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/#article","isPartOf":{"@id":"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/"},"author":{"name":"Keenan Prinsloo","@id":"https:\/\/propertyprofessional.co.za\/#\/schema\/person\/22462ccece4a710f4b40653cf61024e4"},"headline":"Affordability a Likely Stumbling Block this Year","datePublished":"2015-08-20T11:54:24+00:00","dateModified":"2023-05-18T15:24:52+00:00","mainEntityOfPage":{"@id":"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/"},"wordCount":286,"commentCount":0,"publisher":{"@id":"https:\/\/propertyprofessional.co.za\/#organization"},"keywords":["2015 finance trends","home loans","long-term budgeting"],"articleSection":["Advice & Insight","What is happening in the market?"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/","url":"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/","name":"Affordability a Likely Stumbling Block this Year - Property Professional","isPartOf":{"@id":"https:\/\/propertyprofessional.co.za\/#website"},"datePublished":"2015-08-20T11:54:24+00:00","dateModified":"2023-05-18T15:24:52+00:00","breadcrumb":{"@id":"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/propertyprofessional.co.za\/2015\/08\/20\/affordability-a-likely-stumbling-block-this-year\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/propertyprofessional.co.za\/"},{"@type":"ListItem","position":2,"name":"Affordability a Likely Stumbling Block this Year"}]},{"@type":"WebSite","@id":"https:\/\/propertyprofessional.co.za\/#website","url":"https:\/\/propertyprofessional.co.za\/","name":"Property Professional","description":"The Voice of Estate Agents","publisher":{"@id":"https:\/\/propertyprofessional.co.za\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/propertyprofessional.co.za\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/propertyprofessional.co.za\/#organization","name":"Property Professional","url":"https:\/\/propertyprofessional.co.za\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/propertyprofessional.co.za\/#\/schema\/logo\/image\/","url":"https:\/\/propertyprofessional.co.za\/wp-content\/uploads\/2023\/10\/PP-logo.jpg","contentUrl":"https:\/\/propertyprofessional.co.za\/wp-content\/uploads\/2023\/10\/PP-logo.jpg","width":636,"height":214,"caption":"Property Professional"},"image":{"@id":"https:\/\/propertyprofessional.co.za\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PropertyProfessional","https:\/\/www.linkedin.com\/company\/property-professional-south-africa\/"]},{"@type":"Person","@id":"https:\/\/propertyprofessional.co.za\/#\/schema\/person\/22462ccece4a710f4b40653cf61024e4","name":"Keenan Prinsloo","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/propertyprofessional.co.za\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ec3e66e57f08097c230d6f8d1084f000?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ec3e66e57f08097c230d6f8d1084f000?s=96&d=mm&r=g","caption":"Keenan Prinsloo"},"url":"https:\/\/propertyprofessional.co.za\/author\/prop-admin\/"}]}},"_links":{"self":[{"href":"https:\/\/propertyprofessional.co.za\/wp-json\/wp\/v2\/posts\/744"}],"collection":[{"href":"https:\/\/propertyprofessional.co.za\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propertyprofessional.co.za\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propertyprofessional.co.za\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/propertyprofessional.co.za\/wp-json\/wp\/v2\/comments?post=744"}],"version-history":[{"count":1,"href":"https:\/\/propertyprofessional.co.za\/wp-json\/wp\/v2\/posts\/744\/revisions"}],"predecessor-version":[{"id":4441,"href":"https:\/\/propertyprofessional.co.za\/wp-json\/wp\/v2\/posts\/744\/revisions\/4441"}],"wp:attachment":[{"href":"https:\/\/propertyprofessional.co.za\/wp-json\/wp\/v2\/media?parent=744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propertyprofessional.co.za\/wp-json\/wp\/v2\/categories?post=744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propertyprofessional.co.za\/wp-json\/wp\/v2\/tags?post=744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}