Over the past 20 years, the period 1st quarter 1999 to 1st quarter 2019, the consumer has cumulatively “outperformed the economy, assisting the Retail Property Market to outperform other major property sectors over much of this period.

Thursday, 18 July 2019 23:32

May StatsSA Building Statistics

May StatsSA Building Statistics – Very strong Residential Completions growth still, while on the Non-Residential side Industrial and Warehouse building activity appears to be the provider of “relative stability”

News of yet another principal contractor entering business rescue with tens of millions in debt puts scores of sub-contractors at risk, says MBA North.

Last week’s NERSA decided to allow a further above-inflation tariff hike.

We believe that the 0.8% economic growth rate for 2018 as a whole was likely “property negative”, sustaining negative real growth in property values and total returns in single digits.

“South Africa’s residential market is in for an interesting time in 2019, but our predictions for the year are all positive, and we believe that home buyers and investors who take the plunge and buy early will be well-rewarded.”

The Firstrand economic team expects a 25 basis point interest rate hike this week when the SARB (South African Reserve Bank) MPC (Monetary Policy Committee) meets to deliberate on interest rates.

Retail sales growth remains solid in real terms, having averaged 3.3% for the 1st 5 months of 2016, similar to the average growth for 2015 as a whole.

The FNB Estate Agent Survey has begun to record a mild weakening in agent perceptions of home maintenance and upgrades, following a broad improving trend through 2013 to late-2015.

2015 has seen some positive growth, but Residential Building and Fixed Investment remains low.

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