ITS MY HOUSE – Five Projected Homebuying Deposit Trends for 2024

GUEST – Jackie Smith, Head of Buyers Trust <br /> <br /> <br /> <br /> While 2023 has been a challenging year for the residential property sector, one aspect of the homebuying process that has only grown from strength to strength would have to be home loan deposits.<br /> <br /> <br /> <br /> “In 2022, homebuyers across the country were putting down the smallest deposits South Africa had seen in years,” shares Jackie Smith, Head of Buyers Trust, a cutting-edge bank-hosted deposit solution for homebuyers. “Two of the key drivers was the banks’ willingness to grant zero deposit home loans and homebuyers not prioritising home loan deposits.”<br /> <br /> <br /> <br /> However, Smith shares that in 2023, homebuyers have greatly increased the amount they put down on a home loan – with repeat buyers increasing the size of their deposit by 6.6% year-on-year and an even more staggering jump for first-time homebuyers. <a href="http://www.kayafm.co.za/">Kaya FM </a>