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Buyers to opt for well-run councils The financial health and proper management of local councils is likely to become an increasingly important consideration for SA home buyers. Steep electricity hikes from tomorrow South Africans can brace themselves for a sharp increase in electricity prices as municipalities around the country increase municipal charges. Rate cut brings relief for homeowners and a boost for buyers The South African Reserve Bank’s Monetary Policy Committee announced last week that interest rates had dropped by 0.25%, bringing the repo rate to 7.25% and the prime lending rate to 10.75%.