FNB’s property barometer for November has just been released, offering some insights into movements in the property market compared to previous months.
Some key themes in the FNB report, are that against the backdrop of reduced affordability, purchasing momentum in the property market is declining across all segments, hovering just below pre-pandemic levels.
There are indications of prevalent downscaling, boosting activity in the more budget-friendly brackets.
At the same time, a sense of disillusionment among younger buyers underscores the disproportionate effects of sluggish economic conditions and higher interest rates on this demographic.
