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FNB: property prices to decline further
The average house price growth is likely to be slower than anticipated for this calendar year, with FNB forecasting another year of decline in house prices after taking in account the impact of inflation.
FNB is forecasting an average house price growth of 3.5 percent on the basis of house price data available for the first seven months of the year.
John Loos, a household and property sector analyst at FNB, said this was based on a gross domestic product forecast of 1.3 percent for this year, which was unchanged from last year.
Loos said that FirstRand expected slightly faster economic growth next year at about 1.6 percent, which would translate into a slightly faster average house price growth forecast of 3.7 percent.
He said the consistently negative real house price growth since early-2016 led FirstRand to believe that economic growth rates of 1 percent to 1.5 percent, along with little interest rate stimulus, were not be sufficient to create the level of housing demand that could mop up oversupplies, balance the market and lead to positive real house price growth.
Business
Eskom did not have to implemented rotational load shedding on Tuesday and the prognosis remains low for Wednesday morning.
This is the same as the risk of load shedding Eskom advised on Monday.
"There is a low probability of rotational load...
WomENG, an organisation for women engineers, is calling for the removal of Manglin Pillay as the CEO of the South African Institution of Civil Engineering (SAICE) over an article he wrote questioning the place of women in the industry.Pillay’s removal will set...
Read More...Politics
South Africa's largest organised farmers' body will keep an eye on the ANC's plans to target 139 farms in test cases for expropriation without compensation and will go to the Constitutional Court if necessary, it says.On Sunday, Read More...
Land expropriation, South Africa's ailing economy and gender-based violence are some of the issues which are expected to be discussed during the Cabinet lekgotla this week.The two-day gathering, currently under way in Pretoria, focused on the state of the economy...
Read More...Sports
Cape Town - Former Proteas batsman Colin Ingram is healthy once again after being struck down with a mystery illness.The 33-year-old, who is the captain of English county side Glamorgan, missed two games in the T20 Blast recently when he was rushed to hospital...
Read More...Cape Town - Two South African cricketers were seriously injured after being attacked by a gang of thugs in England late last month.According to Read More...
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'Disaster' looms for farmers and workers as Eastern Cape dam could run dry in 3 months Water levels in dams in the Kouga district in the Eastern Cape are...
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