Another interest rate increase may not be the holiday gift South Africans were hoping for, but prope

Another interest rate increase may not be the holiday gift South Africans were hoping for, but property experts say 2022 wasn't all bad by any means.

Here are a few of the silver linings homeowners, landlords and tenants can be thankful for as they head into the final stretch of the year.

1.Lenders are still eager to finance home loans

Buyer affordability has taken a knock over the last 12 months, with interest rates rising from 7.5% in January to 10.5% at the end of November. This has eaten into the average consumer's disposable income to a significant degree. However, it hasn't slowed lending appetites at all.

If anything, lenders are more motivated than ever to secure qualified buyers - particularly first-time buyers. They're offering really favourable interest rates, at below prime for the most part. There are also 100% to 105% loans on offer for financially-secure buyers who prefer not to put down a deposit.

Opting for a higher loan-to-value ratio (such as a 100% or 105% bond) will attract a higher interest rate than a purchase with a deposit. As such, prospective buyers are to be warned to save up as much as possible - but not necessarily put their purchase plans on hold.

The most important thing is not to make assumptions. Rather get prequalified by a bond originator for accurate insight into your finance prospects and solid ideas on how to improve your credit record if necessary.

2.Property prices are growing - but not too fast for buyers

With massive global insecurity affecting markets around the world, South African property values have proven remarkably resilient this year.

Average growth figures have hovered around 3.5%, There are of course, pockets of property that have done better than some, but overall performance has been reassuringly stable.

This offers a silver lining to both current homeowners, looking to preserve the value of their money in a secure and stable asset, and prospective buyers who can still find excellent value for money on the market.

3.Rentals rates are stabilising - as are tenants

The rental market is also ending the year on a good note, with positive (if modest) escalation in three of its five price brackets.

Tenant payment behaviour has also shown improvement - particularly in the mid- to upper-level rental brackets - with the R12 000 to R25 000 bracket experiencing its best ever good standing rate at 87%.

It's been great to see tenant payment behaviour recovering to post pandemic levels. It's a positive sign that tenant affordability and rental escalations have reached a healthy equilibrium. We're optimistic for further recovery in 2023.

4.Year-end bonuses are on their way!

Those lucky enough to have a year-end bonus could add another property-related positive to their 2022 list.

By investing even a small amount of extra income into your bond, you can save tens of thousands of rands in the long-run. If you're hoping to buy in the new year, on the other hand, your bonus can also be used to boost your deposit, reducing the size of the loan you need to apply for while simultaneously encouraging lenders to put their best finance offers forward.