FNB Property Barometer - Estate Agent Survey

The latest FNB Estate Agent Survey for September 2010 reflects growing pessimism in the industry as the recession continues to bite.

Economist John Loos summarises the effect on holiday regions as follows:

"All 3 forms of non-essential buying remain unchanged as a
percentage of total buying from the 2nd quarter survey, i.e. buyto-
let buying accounting for 7% of total buying, holiday property
buying 2%, and buying for relatives 1%. However, from the 1st
quarter of 2007, buy-to-let is down from 10%, and both holiday
buying, as well as buying for relatives, down from 5%.
The shift in the composition of total buying away from nonessential
buying has had a profound impact on smaller holiday
property-driven regions".

Read John Loos' full report....