FNB Q3 2024 Survey: Brokers anticipate boost
John Loos, Senior Economist at FNB Commercial Property Finance, is excited to unveil the FNB Third Quarter 2024 Property Sales Activity Survey. The survey reveals an upbeat outlook among commercial brokers, who are seeing a boost in business confidence.
This optimism is attributed to the anticipated positive impacts of a business-friendly election outcome and the recent interest rate cut. While a surge in sales activity hasn’t materialized just yet, brokers are hopeful for future improvements.
Methodology
The FNB Commercial Property Broker Survey covers a diverse sample of brokers across South Africa’s six major metros: City of Joburg and Ekurhuleni, Tshwane, eThekwini, City of Cape Town, and Nelson Mandela Bay. Focused on the “Owner-Serviced” market, the survey includes brokers dealing in owner-serviced properties, with some also involved in developer, investor, and listed sectors.
Broker Business Confidence Soars
In the third quarter of 2024, broker business confidence has seen a significant uptick. The percentage of respondents rating current business conditions as “satisfactory” jumped from 30% in the previous quarter to an impressive 44%.
