Johannesburg, South Africa

Hesitant home buyers should now enter the market following the SA Reserve Bank (SARB) announcement yesterday that the key repo rate has been left unchanged at seven percent, Colliers Residential said.

“The Reserve Bank has probably cut interest rates for the last time this year, which means it is time for cautious or hesitant home buyers to take the leap and enter the market,” said Brian Falconer, CEO of Colliers Residential.

He said it is “highly unlikely” that interest rate cuts that began in December 2008 will continue this year. “There are very positive signs that the worst is over, so any further procrastination would be unwise,” he said.

About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 12,700 employees span the world in 294 offices in 61 countries. On a worldwide basis, Colliers manages 1.1 billion square feet, and has revenue of $US 1.6 billion.

Contact Information

Brian Falconer

brianf@colliersresidential.co.za

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