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15 November 2018

Will FNB’s new app feature disrupt the property game?
South Africa - Moneyweb
FNB Home Finance CEO Lee Mhlongo describes the features of the app, its security, and buyers and sellers’ buy-in.

NOMPU SIZIBA: FNB has introduced an app that enables people to buy and sell property. It’s called the “nav» Home” functionality, and it enables FNB customers to securely list and sell their homes privately to buyers who are likely to qualify for a home loan. It says that this platform of transaction can assist both sides in limiting their costs.
Moneyweb

PayProp Rental Index - Q3 2018
South Africa - PayProp
The latest quarter’s rental statistics do not bring good news – year-on-year growth continued to trend downwards, from 3.92% in Q2 2018 to 3.25% in Q3. In fact, this figure fell to less than 3% in August, before increasing to 3.8% in September.
The higher growth rate for September should be viewed with cautious optimism, as it doesn’t necessarily signal the start of a turnaround. As we see from the graph on the next page, there have been other short-lived increases during the general downward trend since the beginning of last year.

One positive development has been that incomes grew faster than rent for the first time in a year, at 3.73% over the past 12 months.

Incomes grew faster than rent for the first time in a year, at 3.73% over the past 12 months. The increasing inflation rate (see next page) is bad news for consumers, who are already under considerable financial strain. Continuous petrol price increases have had a knock-on effect on the price of other goods and services, which has an inflationary effect all of its own that we sometimes forget about.

For 2019, economists expect inflation to continue to rise for most of the year while economic growth is likely to stay slow, meaning consumers won’t get a break from their woes for at least the next year.
PayProp

‘Big bang, warp-speed change’ for conveyancers, claims PropTech firm
UK - Estate Agent Today
Conveyancers’ use of data and technology to speed through sales is on the cusp of a ‘big bang’ moment according to a PropTech company.

Search Acumen says that the likes of blockchain, tokenised property, property logbooks and the digitisation project by HM Land Registry will transform the legal due diligence process for property transactions.
Estate Agent Today

NSW minister Victor Dominello demands interoperability from PEXA
Australia - Financial Review
NSW Finance Minister Victor Dominello on Monday warned against PEXA becoming an Apple-like closed system and said the newly privatised electronic conveyancing platform had to be open to work with other – potential rival – systems.

Mr Dominello said he was having an argument with Property Exchange Australia, set to become fully owned by registry services provider Link Group, over its interoperability.

"PEXA needs at its core, in my view, to be interoperable and if it's not then ultimately PEXA wins and the citizen loses," he said in an interview at the UBS Australasia Conference in Sydney.
Financial Review

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