MultiNET announced yesterday that June has showed a significant increase in hone loan applications submitted , they have recorded a 50% increase in submissions Year on Year. Acceptance ratios have declined mainly due to the banks being more risk averse whilst property prices have also declined by just over 1.5%.
“In summary we are seeing much higher activity in the market whilst property prices have declined, we have not seen a radical price drop. In my opinion this is a good opportunity to enter the market for first time home buyer as well as the high-end property market where prices will most centrally be more susceptible to a value decline.” says Shaun Rademeyer, CEO MultiNET Home Loans.
Housing market score out of 10
· First time home buyers 9/10
· Selling my existing home 6/10
· Getting home loan finance 7/10
· Selling my luxury property 4/10
· Buying a luxury property 9/10
Overall property sentiment 7.5/10
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