Residential Property - "I`m feeling bullish": Absa home loan boss - South Africa's fastest-growing property website
You might be pondering whether the worst is over for the residential real estate sector, but Absa's home loans' boss isn't in any doubt. He sees "light at the end of the tunnel and no train in sight".
Speaking on Monday to Realestateweb, property news division of the Moneyweb media group, Luthando Vutula said home loan applications were up month-on-month by a dramatic 20% in September. "This month will be an even better month," he predicted for October. Approvals for residential mortgage applications are also up, at Absa.
Vutula said: "I'm quite bullish, quite excited that (the market) will turn faster than we thought." He said the first half of 2010 was looking rosy.
This is good news for Simon's Town residential property market in particular. We have seen more and more enquiries for property in Simon's Town
