| From Allafrica.com: Auctioneers say investor sentiment has improved significantly over the past two weeks following the Reserve Bank's decision not to hike interest rates, with buyers pouring into residential and commercial property auctions.Rael Levitt, CEO of The Alliance Group, says trading on the group's auction floors this month throughout the country has seen the strongest investor appetite in more than a year."And our success rates and bidding activity has literally changed overnight."
He believes the decision not to raise rates has made many investors and property owners "breathe a sigh of relief, realising that the country is most likely at the top of the interest rate cycle".As far as commercial property is concerned, Levitt says they are seeing a "definite increase in prices and bidding activity with more registered bidders".At a multiple auction held by The Alliance Group in Sandton last week, a record 350 people were in attendance..... Full Article: Source
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