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Urban housing market trends reflect a tale of two markets As economic conditions evolve, these trends will shape both the opportunities and challenges for buyers and sellers in the South African housing market.Rental market picks up the slack as property sales declineWhile the property sales market declined notably during 2023 due to the spike in the interest rate, the rental market soared as many would-be buyers turned to rentals for more affordability and reduced risk.Rising rental arrears tied to cost of living, not rent hikesThe percentage of South African tenants in arrears rose from 18% in Q1 2023 to 18.4% in Q2 – the highest percentage recorded since the end of 2021, but still below the peak recorded during the COVID-19 pandemic.