The property market has historically shown resilience during changing rate cycles.
The interest rate increase may place additional pressure on household finances in the short term.
This is as the policy rate increased by 25 basis points to 7%
Delivering the Statement of the Monetary Policy Committee on Thursday afternoon, Lesetja Kganyago, Governor of the South African Reserve Bank (SARB) said the committee decided to increase the policy rate by 25 basis points, to 7%, effective from 29 May.
He said four members preferred this action, while two favoured no change.
