Real estate heavyweights predict that 2010 will be a great property year. Absa’s home loans’ boss says that he sees “light at the end of the tunnel and no train in sight”. Home loan applications were up by a dramatic 20% in September and approvals at Absa for residential mortgage applications are also up.
It seems as though people are more positive because the affordability levels are back to around the 2007 levels. Banks will grant more in mortgage finance because of the fallen interest rates since December.
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