Fairvest Property Holdings Limited (“Fairvest”) today announced another set of strong results for the first six months of the 2017 financial year, with distributions increasing by 9.57% year-on-year.

The FNB House Price Index for 2016 as a whole rose by 5%, slower than the 7.2% and 6.5% for 2014 and 2015 respectively.

While economic growth is expected to be mildly better in 2017, this is not yet expected to be enough to turn Real Household Disposable Income growth positive on a per capital basis.

Retail Sales growth tends to be more cyclical than overall economic growth, outperforming the latter in good times, but often underperforming economic growth in tougher times.

The residential property market has had its ups and downs during 2016 as the economy stagnates, the Reserve Bank started hiking interest rates again and consumers struggle with household debt-to-income.

While political and economic uncertainty is likely to continue across the globe next year (2017), it is hoped that local economic growth will be modestly stronger, which will be more supportive for the South African housing market, says Dr Andrew Golding, CE of the Pam Golding Property group.

Quarterly property statistics released by ooba, South Africa’s largest bond originator, show that residential property price growth is slowing as the supply of residential property outstrips purchasing demand.

2nd Quarter 2016 SARB New Mortgage Lending data showed a 2nd consecutive quarter’s year-on-year decline.

Fairvest Property Holdings Limited (“Fairvest”) today announced a full year distribution of 16.660 cents per share, which represents a 10.29% increase on the comparable period and again exceeded the guidance previously issued.

JSE-listed diversified real estate investment trust Redefine Properties (JSE: RDF) has successfully raised Euro 150 million through the launch of a five year exchangeable bond programme to be listed on the Frankfurt Stock Exchange, with the proceeds to be used in part settlement of the bridge facility used to fund its recent investment into Poland.

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