FNB House Price Index
FNB - South Africa
FNB House Price Index starting to show stronger signs of market improvement
The FNB House Price Index's year-on-year decline continued in August, but for the 2nd successive month we saw a diminishing price deflation rate, with the index starting to show clearer signs that the market is starting to stabilise. On a year-on-year basis, the index declined by -7.4% in August, a significant improvement on the revised -8.5% deflation rate for July.
On a month-on-month basis, although we haven't seasonally adjusted the series, the rate of increase has become too significant to merely write off as seasonal factors, with the August month-on-month rise amounting to 1.8%.
The improving trend comes some time after estate agents surveyed in FNB's Residential Property Barometer began reporting moderately strengthening demand levels back in the 4th quarter of 2008, but the reason for the index taking so long to get out of price deflation has been a significant oversupply of property on the market relative to demand, with many households having to sell properties due to financial stress.
FNB House Price Index
Standard Bank Residential Property Report
Standard Bank - South Africa
Outlook: Smoothed growth in the Standard Bank median house price index decreased by a disappointing 5.2% y/y in August, averaging 3.9% y/y in the first eight months of the year. Over the short term, the economic outlook is expected to remain lacklustre; however, relatively positive developments on the inflation front, the global economy and the full impact of lower interest rates, will support the property market in time to come. It is anticipated that house price growth will be negative over the short- to medium term, but likely to improve towards the end of the year as the effect of interest rate cuts impacts the economy and the property market.
Standard Bank Residential Property Report
Home loans: business should perk up soon
Realestateweb - South Africa
Pain continues for mortgage originators, but should ease from January.
Bank caution when it comes to granting home loans has been highlighted again, this time with the release of the latest South African Reserve Bank mortgage advances growth data.
The figures show the lowest year-on-year growth (6,4%) in outstanding mortgage balances since May 2000 (6,3%), said Absa Home Loans senior property analyst Jacques du Toit. The figure was 8,2%, year-on-year in June.
Realestateweb
Workshop in Environmental Law
L.E.A.D - South Africa
Mr Kemi Behari will be presenting workshops in advanced environmental law in Pretoria, Durban and Cape Town. The purpose of the Workshop is to:
- Provide an understanding of the powers of environmental management inspectors (EMI's) in compliance and enforcement.
- Understand the law pertaining to marine pollution
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