{"id":269089,"date":"2018-09-04T18:00:43","date_gmt":"2018-09-04T16:00:43","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=269089"},"modified":"2018-09-04T17:29:58","modified_gmt":"2018-09-04T15:29:58","slug":"emigration-related-home-selling-in-south-africa-has-risen-noticeably-fnb","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/269089\/emigration-related-home-selling-in-south-africa-has-risen-noticeably-fnb\/","title":{"rendered":"Emigration-related home selling in South Africa has risen noticeably: FNB"},"content":{"rendered":"<p>Lender FNB has released its House Price Index for August 2018.<\/p>\n<p>The index is based on FNB\u2019s own valuations database and includes a number of cut-off prices (no properties lower than R20,000 or higher than R15 million) when compiling its data.<\/p>\n<p>It also asks buyers, sellers and real estate agents a number of questions during the property transaction process &#8211; including why they are buying or selling a home.<\/p>\n<p>According to FNB there are eight main motives behind why South Africans are selling their homes right now.<\/p>\n<p>&#8220;Of the eight categories, we identify four as &#8216;procyclical&#8217; motives for selling, in other words, categories that will increase in significance as the property market strengthens and decline in significance as it weakens,&#8221; said FNB property sector strategist, John Loos.<\/p>\n<p>These four categories are:<\/p>\n<ul>\n<li>selling to upgrade &#8211; 11%<\/li>\n<li>selling to downscale with life stage &#8211; 24%<\/li>\n<li>selling to relocate to a different region within South Africa &#8211; 10%<\/li>\n<li>selling to move nearer to work or amenities &#8211; 6%<\/li>\n<\/ul>\n<p>&#8220;As a group, these four motives have declined in significance from a high of 61% of total selling as at the second quarter of 2014, to 49.34% by the second quarter of 2018,&#8221; Loos said.<\/p>\n<p>In the &#8216;counter-cyclical reasons for selling&#8217; category, there is only one key motive, and that is selling to downscale due to financial pressure, he said.<\/p>\n<p>&#8220;Understandably, this motive should increase in significance in a &#8216;downturn&#8217; and vice versa in better economic and property times. Indeed, from a multi-year low of 11% of total selling in the third quarter of 2014, mildly higher interest rates and a stagnating economy have pushed this selling motive mildly higher to 14.7% by the second quarter of 2018.&#8221;<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/09\/Emigrate-2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-269093 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/09\/Emigrate-2.jpg\" alt=\"\" width=\"1130\" height=\"229\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/09\/Emigrate-2.jpg 1130w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/09\/Emigrate-2-300x61.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/09\/Emigrate-2-768x156.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/09\/Emigrate-2-1024x208.jpg 1024w\" sizes=\"auto, (max-width: 1130px) 100vw, 1130px\" \/><\/a><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/09\/Emigrate-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-269095 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/09\/Emigrate-1.jpg\" alt=\"\" width=\"642\" height=\"398\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/09\/Emigrate-1.jpg 642w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/09\/Emigrate-1-300x186.jpg 300w\" sizes=\"auto, (max-width: 642px) 100vw, 642px\" \/><\/a><\/p>\n<p>In comparison the three non-cyclical motives include:<\/p>\n<ul>\n<li>Selling due to change in family structure &#8211; 16%<\/li>\n<li>Moving for safety and security reasons &#8211; 11%<\/li>\n<li>Selling to emigrate &#8211; 7.8%<\/li>\n<\/ul>\n<p>&#8220;The former two have moved more or less sideways in recent years, but emigration-related selling has risen noticeably since 2013 on the back of weakening sentiment in South Africa often related to concerns over its long-term policy and political direction,&#8221; Loos said.<\/p>\n<p>&#8220;From a low of 2% of total selling, the emigration\u00a0motive has risen to 7.8% of total selling by the second\u00a0quarter of 2018,&#8221; he said.<\/p>\n<hr \/>\n<p>Read<strong>:\u00a0<a href=\"https:\/\/businesstech.co.za\/news\/business\/268947\/south-africans-are-taking-fewer-leave-days-and-cant-switch-off-from-work\/\" target=\"_blank\" rel=\"noopener\">South Africans are taking fewer leave days \u2013 and can\u2019t switch off from work<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FNB has released its latest House Price Index &#8211; showing how many South Africans are selling their homes with aims of leaving the country.<\/p>\n","protected":false},"author":10,"featured_media":120191,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[76,26],"class_list":["post-269089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-fnb","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/269089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=269089"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/269089\/revisions"}],"predecessor-version":[{"id":269131,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/269089\/revisions\/269131"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/120191"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=269089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=269089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=269089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}