select
|

Property Barometer - Estate Agent Survey by Segment

The latest First National Bank (FNB) Estate Agent Survey revealed that residential activity appeared the strongest in the lower income segment over the past four quarters. 

According to the survey for the last four quarters up to and including the 4th quarter of 2015, respondents from the lower income area segment of the residential market returned the highest estimated activity ratings for their areas. 

The high net worth area segment remained the segment with the weakest activity rating last year, but throughout 2015 that weakening activity spread to the upper and middle income area segments as well. 

Indicators of seller price realism or supply-demand pointed to the high net worth segment being the weakest.  

Asked about why they are expecting weakened activity levels, most agents in recent years pointed towards stock constraints and in 2015 these constraints appeared to become more acute as one went from the high end to the low end of the residential market. 

The lower income area segment came out as the strongest segment from a demand-supply balance it would seem. 

A noticeable feature of recent FNB Estate Agent Surveys by segment has been a broad decline in the percentage of sellers believed to be selling in order to upgrade to a better home. Such decline has taken place across all 4 of the area segments, although being most pronounced at the High Net Worth Area end to date.

In addition to a slower pace of upgrading to higher valued properties, the survey also points to a higher rate of selling in order to downscale due to “life stage” in 2015, which refers to sellers who no longer have the need for a “large or costly” home due to children having left home, or because they are ageing and the running of a large home becomes “a costly hassle”

Read the full report here 



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 25 May 2018
      Reliable public transport systems moving a mass of commuters to and from work, keep a city’s economy moving. Not only do they have a positive impact on economic growth, successful rail links also influence property values.
    • 25 May 2018
      The live, play and visit environment that Centurion Residential Estate & Country Club offers continues to attract buyers looking for a very specific lifestyle and ambiance.
    • 25 May 2018
      As expected, the Monetary Policy Committee kept the repo rate stable, with analysts and market commentators ahead of yesterday's announcement (24 May 2018) pointing to a more hawkish stance amid a weaker rand, somewhat less stable global environment, and an eye on the inflation outlook – coupled with the increase in VAT and sizeable hike in the price of fue
    • 24 May 2018
      Most real estate professionals agree that 2017 was one the toughest years to date; an eminently challenging 12 months that subdued even the strongest markets - including the country’s economic powerhouse of Sandton.
    • 24 May 2018
      These are uncertain and challenging times for the real estate industry, but the non-profit organisation Rebosa is fighting for their interests and finding pragmatic solutions to industry issues such as the urgent need to fast-track transformation says Richard Gray, Rebosa chairman.
    • 24 May 2018
      The decision to invest in property isn’t one that’s taken lightly, or dealt with flippantly. The same should ring true when deciding on an estate agent partner to handle the letting out of your property.
    • 23 May 2018
      Homeowners who are thinking of selling and “trading up” to a bigger or a better home had better be quick now if they want to get the best deal.
    • 23 May 2018
      The new Loftus Park development in Arcadia is really going to boost the demand for homes and rental accommodation close by and the neighbouring suburb of Sunnyside, says Gerhard Kotzé, MD of estate agency group RealNet Holdings.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK