Online property retailer Property Fox has used Instagram to launch the Property Fox Virtual Realty Report, which analyses Instagram activity around Cape Town, Durban and Johannesburg to determine whether trends in the virtual space have a bearing on property prices in these areas. Co-founder of Property Fox, Crispin Inglis, says Instagram has become a powerful social and economic force. It helps to set trends, identifies certain Instagrammers as influencers and puts restaurants on the map, even influencing purchasing decisions. Inglis says Property Fox wanted to use Instagram to build a virtual picture of what SA’s neighbourhoods – or “Instahoods” as he calls them – looked like in 2016. To compile the report, Property Fox worked with research house Metric to pull 137,883 Instagram posts (excluding foreign accounts as far as possible), which provided a view of what South Africans were saying on the platform about their neighbourhoods. While the information didn’t reveal any huge surp...

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