JOHANNESBURG - 2024 felt like a key turning point for the better for the South African economy, as the rate-cutting cycle began to offer some relief for indebted consumers.

The property market has started showing signs of improvement, but an improved longer-term economic growth is crucial.

John Loos, FNB Senior Economist for Commercial Property Finance, said there was a moderate rise in business confidence.

"One did see after the election and the formation of the Government of National Unity an uptick in business confidence."