The FNB Residential Property Barometer is a quarterly report produced by FNB Home Loans, that draws conclusions about the future of the property market from a survey of various estate agency groups in South Africa.
Now is the time to get into the property market, or to invest further into residential property if you already own a home. Besides being a basic need, property values are growing fast and the pace is expected to increase even further!
Property prices and property values are continuing to increase. That’s according to the FNB House Price Index for February 2010. In his report, John Loos of FNB Home Loans, highlights that the value your home has grown by 5.8% from Feb 2009 to Feb 2008. This growth rate is much better than January’s figures of 3.6% year-on-year growth. But they’re still lower than inflation, which is currently above 6%.
The latest FNB House Price Index shows that although property prices are still declining (by about 2% each month) the rate of decline is starting to slow down, and we could begin to see positive growth towards the start of 2010.