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Housing Market Holds Despite Rising Costs | Johannesburg News
Description
South Africa’s housing market held steady in Q2 2026 despite rising interest rates and fuel costs, as banks kept pushing for mortgage business—even with fewer applications. Surprisingly, total loan amounts surged as buyers took out bigger loans for pricier homes, with average home prices up over four percent. The slowdown isn’t about lost interest in homeownership, but affordability: first-time buyers are still entering the market, often with zero-deposit options and larger loans. Lender competition remains fierce, helping buyers who got rejected elsewhere find approval. Despite economic headwinds, the market’s foundation remains strong for those who shop smart.
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