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The FNB Holiday Towns House Price Index, comprising towns (both coastal and inland) whose housing markets are deemed to be strongly driven by holiday home demand, has had a reasonably good run since around 2013.

Recently, there have been hints emanating from our FNB Estate Agent Survey that foreigner demand for local residential properties may be declining.

After reaching its highest level in more than a year of 43 points in 1Q2017, the FNB/BER Building Confidence Index fell sharply to 32 in 2Q2017.

It is important to understand that, due to significant resistance by home sellers to house price declines, in times of economic and residential demand slowdown the residential market can often move away from market equilibrium price.

Our 1st quarter 2017 Gauteng Sub-Regional House Price Indices show mediocrity in terms of house price performance to be widespread.

In April 2017, the FNB House Price Index showed some further acceleration in year-on-year growth compared with the March rate, after having gone through a “dip” late in 2016.

Examining the FNB House Price Indices for the country’s major regions, slowing price growth in the country’s recent star performing region, the Western Cape, continued in the 1st quarter of 2017.

The FNB/BER Building Confidence Index improved for the third consecutive quarter, rising by 3 points to 43 in 1Q2017.

Estimated 1st time buyer percentage sees a rise for the 2nd successive quarter.

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