R930 000

Finweek English Edition - - IN BRIEF -

The av­er­age house price in South Africa in the 12 months to end Jan­uary, re­flect­ing an i ncrease of 5.6%, ac­cord­ing to mort­gage orig­i­na­tion group Bet­ter­Bond Home Loans. The av­er­age home loan granted dur­ing this pe­riod cov­ered only 83% of the pur­chase price. The av­er­age first-time buyer spent R651 000 on a home, with banks fi­nanc­ing on av­er­age 91.5%, leav­ing first-time buy­ers to come up with a de­posit of around R55 000.

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