According to FNB’s latest Residential Property Barometer, released on Monday, there may be bad news for home owners hoping for quick sale.
According to the figures released, currently the average time it is taking for a property to sell is 15 weeks and 3 days or almost 5 months. However this is still vastly better when compared to 20 weeks and 1 day which is what it peaked at. Although the time frame has improved it probably also points to most sellers not getting their asking price.
We will have to wait and see what the Tito Mboweni does with the interest rate in the coming months to get a better idea of what homeowners can expect this year and the year to come. The interest rate will influence many homeowners in many ways whether it goes up or down.
