Real Estate Investor Magazine South Africa October 2014 | Page 38

STATS

RESIDENTIAL

The Residential and Residential-Related affordability picture
showed signs of deterioration in early-2014.

The solid performance of the housing market continues, with
a good balance between demand and supply, but the pace of
growth appears to have been slowing down in recent months.

FNB expects a slower average house price growth rate in
2015 compared to 2014. However, it does not expect to see
too much further price growth slowing, with the house price
inflation rate now below general inflation in the economy.

The number of building plans approved by local government
authorities is showing strong growth year-on-year, however,
housing reported as completed showed a further contraction
from a year ago, although the pace of contraction has slowed
down significantly from previous months.

Latest oobarometer
Indicator

Aug 2013

Change yr on yr
(Aug 14 vs Aug 13)

Jul 2014

Change month
on month
(Aug 14 - Jul 14)

Avg purchase price

982,297

905,200

8.5%

937,215

4.8%

Avg approved bond size

814,639

769,847

5.8%

830,549

-1.9%

Avg deposit
(as % of purchase price)

17.1%

15.0%

(R167,658)

(R135,353)

Effective approval ratio
38

Aug 2014

71.4%

73.0%

11.4%
14.0%

October 2014 SA Real Estate Investor

50.0%
(R106,666)

-1.6%

70.9%

0.5%

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