The one positive of this, even if some of it is depressing, is that there'll be life on the other side, writes Adriaan Basson.
Demand is improving, and fewer people are putting their properties in the market.
In real terms, average house prices continue to decline, which FNB sees as a continuation of a downward adjustment in line with subdued economic activity.
Suburbs in the Western Cape and Gauteng came out tops in the first quarter of 2019 as the most searched for nationally on the website of estate agency RE/MAX.
The majority of home sellers have to drop their asking price to sell the property, according to a second quarter FNB Estate Agent Survey.
According to the RE/MAX National Housing Report for the first quarter of 2018, most homes sold were in the price bracket of R400 000 and below.
How (and when) you actually know you can afford to buy property.
It seems increasingly likely that 2017 will be the third consecutive year of slowing average annual house price growth, according to the latest FNB House Price Index.
UK house prices have risen more than expected in February, according to Nationwide Building Society, a sign that the market’s strength has extended into this year.
The average cost of new housing built increased by 6.9% year-on-year in the first nine months of the year, according to an expert at Absa Home Loans.
Nominal house price growth is expected to remain in a relatively narrow range in 2016 and 2017, says a property analyst.
The average house is now sold for 2.5 times more than a new light vehicle.
Residential property prices declined by 1.2% in real terms the past year.
While price-growth and activity may be slowing amid the uncertainty, almost every other major urban area in the country is still experiencing a rising market, according to Acadata.
New numbers show falling house prices in the Sandton.
According to Acadata, house prices in the capital fell to an average of £593,396 (R9.7 million) in January, an annual fall of 2.6%.
It appears likely that low average house price growth will continue in the near term and that house price “correction” will continue, says a property expert.
Among the so-called Big 4 provinces, Gauteng has the most affordable housing market, according to John Loos, household and property sector strategist at FNB.
House price growth is slowing, and this is expected to boost rental yields, writes finweek journalist Glenda Williams.
In real terms house prices in the middle-segment of the SA housing market deflated further in September this year, according to an Absa index.
Gauteng has been leading the way to slower average house price growth among the major property regions in SA, the FNB Major Regions House Price Indices show.
Cape Town Southern SuburbsLiberty Financial Advisers
Cape TownTumaini ConsultingR600 000.00 - R800 000.00 Per Year
R 2 650 000
R 6 950 000
R 4 500 000
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