South African Car And Home Sales Start To Slow Down |
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December 8 - In the wake of interest rate hikes both car and home sales are starting to slow down if not stagnate according to the latest data released in South Africa. This could have an impact on your own short-term insurance policies as it might be time to get your own assets reappraised. NAAMSA reported that sales of new cars was down over four percent in November from the previous month. However the number of vehicles sold was still significantly higher than in November of 2005. South Africans continue to amass hefty credit bills even though the repo rate has risen. Nevertheless this latest drop in sales indicates that the market is finally slowing down. The same trend is evident in the housing market. Home prices are unlikely to fall but they may stay the same for the next few months instead of rising, which has been the trend up until November. Home prices are up more than eight percent compared to a year ago. The spending spree in South Africa is probably far from over but it is taking a hiatus at the end of this year. Now could be an excellent time to find out if you're paying too much insurance for your own car and home. Get both of them evaluated in the current market - it might surprise you to find out that the values on which your current policies were based are now out of date. On the other hand the value of your home may now be a lot higher requiring more insurance coverage. Don't be caught short either way! Related Insurance Articles: * Pay Lower Car Insurance Premiums In South Africa * Why Travel Insurance is so Important * Medical Insurance In South Africa And Why You Need It * Lower Insurance Premiums Vs Your No-Claims Bonus * Liberty Life To Buy Out STANLIB * Blue Financial Services Maiden Earnings Up 225% * Lloyds Investors Lose Insurance Regulation Lawsuit * Insurance Stats Prove Crime Rate In South Africa Is Rising 
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| 3/14/2010 7:04:57 AM | |||||||||||||||||||||
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