Don’t sell your house just yet — FNB property barometer
2017 may be the second year of real house-price correction, with 2018 possibly being ‘mildly stronger’
Home owners should not be too hasty to sell just yet. Seven months into 2017‚ it is becoming increasingly likely that this year would be the second consecutive year of real house-price correction‚ said property expert Johan Loos‚ in his release of FNB’s property barometer."In July 2017‚ the FNB house price index showed a slowdown in year-on-year growth‚ having reverted to slowing down after an early promise at the beginning of the year of some mild strengthening‚" said Loos."This return to slowing price growth appears very much in line with certain leading economic indicators‚ which also showed some mild promise early in the year only to disappoint from around the second quarter of 2017. Key to whether the housing market can strengthen any time soon will be how far interest rate cuts go this time around."Among the indicators pointing to a near-term return to weakening is the Reserve Bank’s leading business indicator for the most recent three months’ worth of data‚ and a significant ...
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