Unexpected rate cut a positive move for property market…

Greg Cryer, marketing and sales manager of the eLan Group, believes it to be a small but important step towards the recovery of the property market. “The rate cut won’t stimulate the economy dramatically but it can only have a positive effect on the property market which is already showing signs of more activity in the residential sector,” he said. There have been various reports in the media that the property market has bottomed out. Cryer said the recent cut will help maintain this plateau and encourage more movement in the market. He also encouraged bonded owners to speak to their financial advisors about fixing their interest rates as he didn’t foresee the rates dropping any further.

The eLAN Group is a dynamic property development group based in KwaZulu Natal,