Rate Hold Splits Opinion: Stability now or missed chance?

• SARB pause steadies prime at 10.50%; execution and pricing discipline matter most.
• Seeff: “A huge missed opportunity”, room existed for another cut to spur growth.
• Others see a temporary pause; buyers’ pockets and rentals stay resilient.

South Africa’s rate pause leaves repo at 7.00% (prime 10.50%), and the industry is split between relief at stability and frustration at a lost catalyst.

Seeff Property Group  ‘missed opportunity’

‍“This is a huge missed opportunity for the economy and the property market,” says Samuel Seeff, chairman of Seeff. “With inflation at 3.3% and the rand steady around R17.50/USD, there was ample room for at least 25 bps—especially after the US Fed cut.” He adds: “We need further cuts to move back to pre-pandemic levels and stimulate growth and jobs.”

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On activity: “Branches are reporting improved sales and depleting stock, but volumes remain below pre-pandemic levels in many areas.” With FNB showing national house price growth at 4.5% in August, “now outpacing inflation” Seeff urges bolder action to sustain momentum.

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Pam Golding Property Group - pause, not full-stop

‍“It’s unfortunate the MPC didn’t cut,” says Dr Andrew Golding, chief executive of Pam Golding Properties, “but we see this as a temporary pause in the easing cycle, scope for cuts later in 2025 or into 2026.” He notes a modest housing recovery under way: “Banks are offering more competitive pricing, higher approval rates, and lower deposits.

Western Cape nodes particularly tight on supply.” The takeaway: “This is a selective recovery, quality stock in quality locations moves; the rest must be priced for reality.”

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Tyson Properties - Resilience with discipline

‍“This pause was expected,” says Chris Tyson, CEO of Tyson Properties. “It doesn’t magically fix household budgets, but South Africans are resilient.”

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‍His playbook: “Keep bond repayments at current levels if you can, you’ll shorten the term and harden against future shocks.” For sellers: “Price wisely or the market will punish you.” For investors: “It’s still a buyers’ market in the right segments; the rental engine is strong and likely to climb while growth is patchy.”

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High Street Auction Co. - Selective opportunity

“Cautious optimism is the right stance,” says Greg Dart, director at High Street. “With the SARB still anchoring toward 3% CPI, many corporates are freeing liquidity by selling non-core assets, that’s where auctions surface value.”

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Strategy is geographic:

“Location matters more than ever, Western Cape and parts of KZN show early traction, especially logistics and industrial. Buy the right node at the right price.”

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Summation

‍The hold won’t ignite a surge, but it removes guesswork, which rewards prepared buyers, realistic sellers, and operators who can prove performance.

Seeff wants a bolder cut to accelerate growth; Golding frames this as a pause before further easing; Tyson urges household discipline and smart pricing; Dart points to node-specific value and auction pipelines.

Net-net: treat 10.50% prime as a planning baseline, get prequalified, target supply-tight corridors, price to move, and use stability to optimise cash flows. In this market, strategy, not sentiment does the heavy lifting.

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