Property Barometer FNB Estate Agent Home Buying Survey

PROPERTY BAROMETER FNB ESTATE AGENT HOME BUYING SURVEY – 4th Quarter 2013 survey sees a resumption of residential activity improvement after previous quarter’s slight decline, as the residential market seemingly defies very weak economy.

ON AVERAGE, ESTATE AGENTS PERCEIVED A STRENGTHENING IN RESIDENTIAL ACTIVITY IN THE 4TH QUARTER OF 2013

The 4th Quarter 2013 FNB Estate Agent Survey, completed in the month of November, saw a resumption of strengthening in perceived domestic residential property activity, after the preceding quarter’s reading had dipped slightly.

The survey is of a sample of estate agents predominantly in SA’s major metro regions. The 1st question asked to agents is with regard to their perceptions of residential market activity in their areas, a subjective question on a scale of 1 to 10, with 10 being the strongest level of activity.

The 4th Quarter Residential Activity Indicator rose, from the previous quarter’s 5.91, to 6.27. This increase would appear to be more than just positive seasonal factors as the summer arrived, because our statistically seasonally-adjusted version of the Indicator also rose from 5.98 to 6.41 over the 2 quarters.

This rise in the Activity Rating in the 4th quarter of 2013 suggests that the gradual strengthening trend in the market through 2012 and 2013 is still intact, and that the mild seasonally-adjusted decline in the preceding quarter did not yet signal a trend change.

The 4th quarter Activity Indicator increase makes sure that the Activity Rating level remains in the “stable” bracket (a level from 4 to 6), and indeed that is how we would continue to describe the market too, with our own FNB House Price Index growth rate for 2013 having averaged price growth slightly above consumer inflation, implying very stable house price levels in real terms.

The other rating brackets are the “Positive” bracket, which would comprise a rating of 7 to 8, “not very active (1 to 3), and “very active (9 to 10). Read More ...

05 Aug 2015
Author FNB

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