Agents expect house sales to rise
There is a broad strengthening in the perception of agents' that residential house sales are likely to rise according to an FNB estate agents' survey.
"In terms of market segments‚ the demand remains for a lower-end priced homes‚ even after higher-priced areas showed a noticeable improvement last year‚" FNB's household and property sector strategist John Loos said.
The survey is made up of a sample of estate agents predominantly in SA's major metropolitan regions.
"A noticeable feature of the lower-income segment over the past four quarters has been a steady rise in the percentage of sellers believed to be selling in order to upgrade to a better home‚" Loos said.
"When examining the FNB estate agents' survey by income segment‚ we continue to see the lower-income segment's sample of agents being more upbeat on activity than the segments further up the price ladder," he added.