13 things that can hurt the value of your property

Due to the stagnant economy and higher interest rates, there are fewer buyers in the property market and transactions are taking longer to conclude while stock numbers trend upward, which means it’s essential for sellers to do everything they can to give their homes the best chance of selling.

The first, he says, is the continued favourable mortgage lending conditions which are still at the best level since the 2007/8 period when the National Credit Act was introduced. The prime rate at 11.75%, while notably higher compared to the last two years, is still below the average of 15%-16%, he added.

A second important motivator for buyers is flat price growth. House price growth has trended consistently downwards for the last 18 months.

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