Benefits Of Property Agents

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After weathering a difficult recession, business is beginning to pick up for land brokers with prices rising and banks raising their lending.

Although some sections of the residential property market stay sluggish, the market for primary residential property is powerful, First National Bank said in its latest House Price Index. “Luxurious” purchasing, for example, buy-to-let and vacation property, are lagging the recovery as household income remains under stress.

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While property brokers have been optimistic about the prospects for the buy-to-let marketplace, the numbers tell another story. Presently, only about 65 percent of a bond is covered by rental income, meaning buy-to-let remains an unattractive prospect for prospective investors. Search online today and Find your perfect property from Singapore property.

FNB’s most recent house price index shows house prices are rising, with the year-on-year development of 8,6% attained in March, up from February’s growth of 6,2%. This is mainly thanks to a five percentage point cut in interest rates since the end of 2008. The average house price in the indicator is currently R779 546.

As property brokers are determined by achieving sales to make a living – their principal source of income is a commission, usually calculated as a percentage of the selling price achieved – increased sales and prices are great news for the market, which experienced significant job losses since the onset of the financial crisis in 2008.

Additionally, banks are increasingly ready to hand out home loans. According to the latest data from house loan originator ooba, the average approved bond size revealed a year-on-year growth of 13,9 percent in February, while the average deposit has dropped by 8,9% within the same period.

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