Absa encouraged by budget - expert

Johannesburg - Finance Minister Nhlanhla Nene's 2015/16 budget will help people in lower and middle-income households when they sell property, Absa says.

Economist and property expert at Absa, Jacques du Toit, said in a statement: "We're encouraged by today's budget speech (on Wednesday) where the rates and brackets for transfer duties on the sale of property will be adjusted to provide further relief to lower and middle-income households.

Nene was presenting his first main budget, for 2015/16, as finance minister to the National Assembly.