2014 Gauteng Homemakers Expo

The 2014 Gauteng Homemakers Expo is presenting bold, bright and individual ideas and products covering all the latest trends on the home front.

Visitors can also expect the Repurpose recycling feature, which will be showcasing an incredible new take on repurposing and up-cycled items.

From 27 February to 2 March 2014, the Coca Cola Dome in Northriding will be a showground of local talent, inspiration from across the globe and practical know-how demonstrations from the experts.

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Interest rates hike and your money

In an unexpected move last week, the Reserve Bank of South Africa (SARB) hiked interest ratesby 50 basis points to 5.5 percent per annum from 5.0 percent as of 30 January, as a result, commercial banks raised their prime lending and variable mortgage rates to 9 percent per annum from the same date.

Lezanne Human, chief executive officer of FNB Savings and Investments, says this increase brings with it an increase in the cost of servicing debt, which means that manySouth Africans will have less disposable income than before.

According to Peter Attard Montalto, Nomura research analyst, they see this hike as the beginning of a 200 to 250 basis points hiking cycle that should be completed by the middle of 2015, in fact, he says we can expect another two hikes this year and most likely in the second half.

The key motivating factor behind the decision to raise the repo rate was the deterioration in the SARB’s assessment of the inflation outlook, explains Investec’s Annabel Bishop.

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Stronger house price growth in 2014

While the average house price growth was nominally lower during 2013 than it was in 2012, the housing market is still moving in the right direction and prices are on an upward trend, says Adrian Goslett, CEO of RE/MAX of Southern Africa.

“The fact is that property remains a solid asset class that continues to provide buyers with a good return over the long term – provided the correct purchasing principals are applied to the transaction. Although property prices are currently only seeing single figure growth, the compound effect of the upward growth trend of property prices will positively impact on the homeowners net worth in the future,” says Goslett. “Potential property buyers who are waiting in the wings and holding out for the next boom are losing valuable growth as property prices increase yearly.”

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