Recent statistics released by one of the top real estate agencies in South Africa suggest a definite improvement in the property market and August 2008 has proved to be the watershed month where prices are slowly but surely recovering.

This is arguably one of the best times to buy property - when prices are still low enough to be affordable to the man in the street but when there is also a definitive movement upwards in the sector as a whole.

Property Prices are a good indicator of the economy

The price of property is generally a very good indicator of the rest of the economy and although South Africans, and consumers throughout the world, have been lambasted by consistent interest rate hikes, early indications are that the trend is slowly turning towards positive sentiment.

The Reserve Bank, showing conservative constraint, has opted not to increase interest rates yet again - another clear indication that the economy is on the move and upwardly mobile this time around.

As long as buyers are able to sustain their debt, there are a range of low interest home loans available to the consumer and mortgage brokers will go out of their way to find the package that best suits the needs of the client. If your debt seems overwhelmingly looming, it might be a sage move to apply for a debt consolidation loan where one payment will sort out the mess.

Buy a home needing a bit of TLC & apply for a home improvement loan

With prices still very much on the low side it could also be a good idea to buy a house that falls into your price range but may be in need of a bit of TLC. This would mean you wouldn’t be over-extending yourself and, with a range of home improvement loans freely available, this may well be the frugal and more sensible way to invest in property in the current economic climate.

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