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Northern suburbs a favourable marketThe Northern suburbs of Cape Town are developing at a fast pace due to increased demand. New developments are sprouting everywhere and local agents are finding the market conditions very favourable.Property market reacts to unchanged repo rateHere’s what the SARB's Monetary Policy Committee's decision to keep the repurchase rate at 7.5% per annum, and the prime rate steady at 11%, means for those in the property market.Repo rate holds steady at 7.5%The Monetary Policy Committee (MPC) decided to keep the policy rate unchanged, at 7.5%. Four members preferred this action, while two favoured a cut of 25 basis points.