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Estimated 1st time buyer percentage sees a rise for the 2nd successive quarter.
In the 4th Quarter 2016 FNB Estate Agent Survey, buy-to-Let demand was a little slower than the prior quarter, keeping the level of recent years “moderate” by pre-2008 boom time standards, and our estimates point to little in the way of growth in secondary property ownership.
In the 2nd Quarter of 2016, the TPN-FNB National Average Gross Residential Yield rose slightly for the 1st time since the 1st quarter of 2014.
2nd Quarter 2016 SARB New Mortgage Lending data showed a 2nd consecutive quarter’s year-on-year decline.
The FNB Estate Agent Survey has begun to record a mild weakening in agent perceptions of home maintenance and upgrades, following a broad improving trend through 2013 to late-2015.
While the South African residential property market is showing signs of strain, prices in the Western Cape just keep going up.
Perhaps one contributing factors to the formation of residential property “bubbles” or “overshoots” across the world over the years is the lengthy leads and lags between the start of a “negative” economic event, such as an interest rate hiking cycle, and the start of a rising trend in bad debt levels.
There is a broad strengthening trend in agents’ perceptions of residential demand‚ according to an FNB estate agent survey.
Foreign residential property buying in the Western Cape region declined in significance throughout 2010, according to the fourth-quarter 2010 FNB Estate Agent Survey.