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The repo rate will remain unchanged at 5.75 percent, SA Reserve Bank governor Lesetja Kganyago said on Thursday.

The prime lending rate, the interest charged by banks to consumers, remains steady at 9,25 percent.
According to the Bank’s latest forecasts, inflation is now expected to average 4.8% in 2015, compared with the previous forecast of 3.8%.

A first quarter average of 4.2 percent is now projected as the low point, compared with 3.5 percent previously. The strong base effects in the first quarter of 2016 are expected to result in a temporary one-quarter breach of the inflation target during that quarter, at 6.7 percent, with the average for the year expected to measure 5.9% compared with 5.4% previously.

Inflation is expected to average 5.5% in the final quarter of the year, compared with the previous forecast of 5.3%.

More savings for the middle property market, but no relief for top-end market.

The changes to transfer duties are likely to boost first-time homebuyers in the affordable property market, but not buyers in the top-end.

This follows the announcement by Finance Minister Nhlanhla Nene on Wednesday that the rates and brackets for transfer duties on the acquisition and sale of property will be adjusted from March 1.

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This is the lowest CPI has been since April 2011 when CPI stood at 4.2%. “The headline CPI (for all urban areas) annual inflation rate in January 2015 was 4.4%. This rate was 0.9% lower than the corresponding annual rate of 5.3% in December 2014,” said Stats SA on Wednesday.

On average, prices decreased by 0.2% between December 2014 and January 2015. According to Stats SA, the food and non-alcoholic beverages index increased by 0.9% between December 2014 and January 2015 while the annual rate decreased to 6.5% in January from 7.2% in December.

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The Projected rentals for the Cape Town Industrial Areas vary between  R25/m² and R55/m² for existing industrial space.

Security Parks such as Airport City, Montague Park in Montague Gardens and Brackengate on the R300 Corridor achieve the highest rentals in Cape Town. Older, less function properties in areas such as Parow, Beaconvale, Epping and Blackheath still have bargains to be had at R25/m².

For more detailed information please contact info@capeindustrialproperty.co.za or call us.