The FNB House Price Index growth averaged 0.5% y/y in November, virtually unchanged from the previous month's print. Our market strength indices show both demand and supply in negative territory.
Our previous report delved into the apparent disparity between mortgage advances and homebuying activity. We suggested that the diverse saving strategies adopted by homeowners during the pandemic cloud the true extent of the underlying weakness in the homebuying market. We maintained that these trends would eventually converge as savings deplete. In this piece, we provide an update with an assessment of buying activity across age groups and price segments.
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