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4 October 2018

Credit and mortgage advances - August 2018
South Africa - Absa
Stable growth in household credit and mortgage balances
Growth in the value of outstanding credit balances in the South African household sector was unchanged at 4,8% year-on-year (y/y) at the end of August 2018 compared with end-July, with these balances amounting to a total of R1 593,2 billion at the end of the first eight months of the year. Year-on-year growth in secured credit balances was unchanged from end-July, whereas growth in unsecured credit balances growth increased somewhat further up to August.

The value of household secured credit balances (R1 218,7 billion and 76,5% of total household credit balances), which includes mortgage, leasing and instalment sales balances, increased by 4,3% y/y up to end-August, unchanged compared with end-July. Year-on-year mortgage balances growth was also unchanged from July to August (see below), whereas growth in instalment sales balances (R270,2 billion and 22,2% of total household secured credit balances) was marginally lower at 6,5% y/y at end-August from end-July.
Credit and mortgage advances

HM Land Registry exploring blockchain for property conveyancing
UK - Internet of Business
The Land Registry is partnering with digital transformation software company Methods to examine the potential use of blockchain in property conveyancing and land ownership registrations in the UK. The partnership will use R3’s blockchain platform, Corda, for the second phase of HM Land Registry’s research and development project, Digital Street, which is designed to explore the use of smart contracts, distributed ledgers, and related technologies, in buying and selling property.

According to an announcement from the government, Methods will be supported by a team of global experts from enterprise blockchain supplier R3, dedicated public sector consultancy Blockchain Digital, and their wider partner network. The government believes that, enabled by the technology, the Digital Street programme has the potential to synchronise and optimise the way that all participants in the property market interact, from solicitors and banks to surveyors and estate agents.
Internet of Business

Desire to rent may become more widespread, says expert
South Africa - Property360
A desire to rent may become more widespread in the near term, and rental home supply could be more constrained… but will this lead to a stronger rental market? Mildly at best, perhaps, writes John Loos, FNB Property Sector Strategist.

For some years, we have been expecting slightly more in terms of residential rental market strength, and this to date has not materialised on a national average basis. Of late, however, our housing market surveys have begun to point to a possible greater desire to rent amongst a certain group, as well as possible greater rental home supply constraints approaching.

Simplistically, this should lead to lower vacancies and stronger rental inflation. But will this be the case in the currently weak economic environment?
Property360

Grass greener on the other side?
South Africa - ReMax
According to Pew Research on the world’s migrants, roughly 900,000 South Africans were living in other countries in 2017. A total of 210,000 of them had migrated to the United Kingdom. This was closely followed by 190,000 South African expats living in Australia and another 100,000 of them living in American states. If you had it in mind to follow their example and say your goodbyes to the land of biltong and braais, then you might find it helpful to know what an entry-level home will cost you in each of these three regions.
ReMax

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