More sad news for South African actress Sophie Ndaba

The actress has had a difficult go of it recently, but that hasn’t stopped anyone from recognizing her star power. She has been linked to death hoaxes and rumored to have lost her mansion.

The actress told TshisaLIVE that she sold her house and did not lose it.

Some journalists should be sued for incompetence and lack of evidence, in my opinion. After the Covid-19 pandemic, I sold the rental property on which I had relied during the epidemic. The city of Johannesburg was not my home. At the time I sold my house, I was a resident of Kimberley. “I had to sell the house,” she explained.

More sad news for South African actress Sophie Ndaba
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This comes just days after the Sunday World reported that Mercantile Bank had sold her property due to her arrears in mortgage payments.

The former Generations actress reportedly had bond arrears of more than R80,000 and was behind on the R22,347 monthly payment on her R2,2 million property. Sophie criticized the insensitivity of the media, claiming that the stigma of her illness has hurt her business and that her children are counting on her.

Whether you have a lot of power or a little, it makes no difference. It does not give you, as a journalist, the right to make fun of someone who has been viral for years, who has been the subject of numerous obituaries, and who has a daily battle against a life-threatening illness like diabetes. “I’m a single mom and my kids need me, I don’t need the stress,” she explained.

More sad news for South African actress Sophie Ndaba

I’ve been through this before. Ignore whatever it is she’s talking about. I was bedridden for two years due to illness. If you want to make a buck, you’re not going to take my kid’s job. It’s a symptom of hopelessness.

To Sophie, the gift of life is the greatest of all. What has kept me going is hope. In the mornings, I pray and give thanks to God for the gift of another day out on my balcony. Even though I didn’t deserve it, he gave me a second opportunity. I don’t know what I did to deserve all this trouble, but I do know that the fact that I’m still alive shows that I have the determination to keep on fighting.

Sophie denied the rumors in an Instagram post. The actress insisted that she is well and urged the media outlet to verify her claims.

I’ll start with the basics of schooling. Auction is the term used to describe the process by which a bank sells a home. With the help of CF Property Agency, I was able to sell my home.

“Stop messing with my business, stop messing with my family, and stop messing with my future,” she yelled at the magazine for prying into her personal life. Since I don’t like the way my life has turned out thus far, I’ve decided to

Awful news for the South African real estate market

According to the South African Reserve Bank’s data on new mortgage lending for the second quarter of 2022, published in the bank’s September 2022 Quarterly Bulletin, growth slowed from the previous quarter, and the trend toward annual reduction in the value of new mortgage loans given strengthened.

Rising interest rates will have a detrimental effect on the real estate market, as has been predicted by industry professionals for some time now.

Awful news for the South African real estate market

John Loos, property sector strategist at FNB Commercial Property Finance, observed that the growth rate of the total value of new mortgage loans given fell to negative 9.35% from the previous quarter’s positive growth rate of 5.34% year-on-year.

That’s the second time in the last three quarters that growth has been negative.

He explained that this drop was expected because “economic growth slowed dramatically in the second quarter,” inflation continued to skyrocket due to rising food and gasoline prices, and the SARB continued to boost interest rates rapidly.

FNB claims that the decline in newly granted mortgage loans is the result of a simultaneous decrease in both residential and commercial mortgage loan approvals.

The massive New Residential Mortgage sub-component is typically the primary driver of change in the overall value of new mortgage loans issued.

While the first quarter saw a 7.4% year-over-year increase in the value of new residential mortgage loans granted, the second quarter saw a decrease to the tune of 1.58%.

The value of new commercial mortgage loans granted fell by a more dramatic 24.31% year over year, following a minor negative rate of 2.5% in the previous quarter.

The property expert noted that the reduction in new commercial mortgage loans tracked with the FNB Property Broker Survey’s findings of weaker sales activity in the office and retail property markets in the second quarter.

Earlier data from FNB’s Estate Agent Survey indicated a slowdown in home sales since the end of the hard shutdown, and he noted that this trend appeared to be reflected in fewer new home mortgage loans being issued.

Home Loans on Request

According to the numbers, the massive Existing Buildings category saw a 9.4 percentage point annual fall in Q2 2022.

We estimate that the significant demand increase in residential property that followed 2020’s substantial interest rate cuts is still providing the bulk of the support for the construction industry’s modestly positive 1.42% growth rate.

Loos claimed that after the lockdown was lifted, residential construction grew to dominate the market.

However, the number of new mortgage loans approved for undeveloped land dropped substantially by -48.85 percent, which may indicate that builders are preparing for a significant slowdown in the coming years.

Loans taken out and those paid back

As a result, the annual growth rate of new mortgage loans paid out has slowed to 1.07% in Q2 2022, down from the 2.01% witnessed in Q1 2022.

According to FNB, “the trend in the Value of Capital Repayments was thus indicating slower development, to the tune of a negative 2.83% in the same quarter,” which was caused by the decline in loan settlements upon the sale of properties in a cooling market.

To see new mortgage lending growth slow to negative rates was widely predicted. It was brought on by a much greater foundation set by the soaring residential demand in the second half of 2021.

The South African Reserve Bank (SARB) “then began to boost interest rates in November 2021 and has hiked by 275 basis points to date,” Loos said.

It is considered that the slowdown in new mortgage lending is due in large part to these interest rate hikes as well as the stalling of economic development in a worldwide recessionary climate, he said.

Given that there is a lag time for interest rate hikes to take full effect on borrowing demand and that the SARB has proceeded to hike interest rates into the third quarter, it is reasonable to assume that these developments will lead to a further near-term fall in new mortgage lending.

FNB believes the Monetary Policy Committee will increase interest rates again in November.

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