News

Brokers point to rise in office market’s sales activity reading during Q4

Business confidence among commercial property brokers rose further during Q4 2024, the second consecutive quarter increase according to FNB Commercial Property Finance however, the still-weak level suggests that most brokers aren’t ‘overly optimistic’ yet.

The industrial property market was perceived to be the strongest, despite its rating having declined further in Q4 2024, significantly lower than its multi-year high reached during the final quarter of 2022 with confidence in the retail property market rising slightly but also down on its multi-year high achieved during Q4 2023.

Confidence in the office property market was perceived as the weakest of all three sectors – but only by a small margin. The sector’s sales activity rating rose during Q4 2024, exceeding its previous post-pandemic high in Q3 and Q4 2023, for the first time.