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2015 property market looks to be stronger

Category Banks

The property market appears to be strengthening after a "lull" in the residential sector in the first half of last year, FNB said yesterday.

The FNB Estate Agent Survey's activity level ratings suggested that this year would see a broadly strengthening market, said FNB household and property sector strategist John Loos.

"However, stock constraints remain significant, albeit possibly diminishing slightly, and one point for minor concern is the apparent perception by agents that residential affordability may just be in the early stages of deterioration," he said.

Loos said the fourth quarter 2014 Residential Activity Indicator saw a slight slowing, from 6.63 previously, to 6.61.

However, a seasonallyadjusted version of the indicator showed activity rising from 6.48 in the second quarter of last year to 6.62 in the third quarter, and then rising further to 6.8 in the final quarter of last year, he said.

Estate agents cited significant stock constraints in the fourth quarter of last year.

He said the survey showed no "meaningful change" in seller price realism.

Author: IOL

Submitted 28 Jan 15 / Views 2922