June oobarometer statistics

oobarometer Analysis:  June 2014

 

 

Indicator

June 2014

June 2013

Change yr on yr

(June14 vs June 13)

May 2014)

Change month on month

(June 14 to May 14)

Avg purchase price

957 245

 

919 965

 

4.10%

 

947 086

 

1.10%

 

Avg purchase price

of  first time buyer

736 907

 

694 143

 

6.20%

 

733 344

 

0.50%

 

Avg approved bond size

839 000

 

794 357

 

5.60%

 

818 955

 

2.50%

 

 

Avg deposit (as % of purchase price)

 

12.4%

(R118 245)

 

13.7%

(R125 608)

 

-9.50%

 

13.5%

(R128 131)

-8.20%

 

Avg age of applicant

37

37

No Change

37

No Change

Avg initial decline ratio

(first bank decline)

45.00%

 

47.60%

 

-2.60%

 

47.50%

 

-2.50%

 

 

Ratio of applications declined by one lender but approved by another

 

26.50%

 

28.70%

 

-2.20%

 

27.00%

 

-0.50%

 

 Effective approval ratio

66.93%

 

66.06%

 

0.86%

 

65.33%

 

1.60%

 

 

 

 

 

 

 

 

 

Hello ooba news

In 2013, South Africa saw slow but steady recovery in the property market, paving the way for greater growth in the year to come.

 

Properties are languishing on the market as buyers remain cautious - but there are things sellers can do to get the best possible price according to SA's largest mortgage originator. Careen Mckinon, Provincial Sales Manager Western Cape at ooba, said home sellers have to be ultra savvy these days. Here are ooba's top tips to make your home as appealing as possible without breaking the bank.

The latest 'oobarometer' price index, first launched by ooba (formerly MortgageSA) in July this year, showed that average house prices have risen 3.4% in the month of September 2008, year on year.