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Half Year 2024 Balwin Properties Ltd Earnings Call Transcript
Welcome, ladies and gentlemen, to a pre-recorded presentation of our results for the six months ending August 31, 2023. (Operator Instructions)
We present our results today against a backdrop of significant headwinds for home buyers and the sector predominantly driven by the high interest rate cycles, the highest in the last 14 years. In addition, global macroeconomic volatility, the further depreciation of the rand, and constrained GDP growth due to ongoing load shedding are driving uncertainty around further rate increases or a higher for longer interest rates environment.
Although banks continue to lend competitively, some bond originators report a slowdown of up to 25% in home loan applications on a year-on-year basis. However, despite starting on a very negative basis, Balwin is still an incredible brand. I'm very proud of the brand. I've been known to be a good jockey in hard times.
A lot of my mentors have said, I can ride the wild horse. I'm here. I'm steadfast. I'm working hard. I'm making sure this company will get
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