17/02/2011 South African Property Prices Set For Fu…

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South African property prices set for further falls Commerc ial News
in 2011 Construction News
Currency Exc hange News
Article Date : 17 February 2011
Ec onomic News
Editors' Choice News
Residential property prices in South Africa are expected to fall this
Environmental News
year largely as a result of weak demand and a struggling economy.
Fractional O wnership News
According to the January 2011 FNB House Price Index report, there Funds News
was an average decline of 1.3 per cent over the month, with average Investment News
prices now standing at R568,000 (£48,500).
M ortgage News
Other News
It is likely that the news will be welcomed by those hoping to buy
property in South Africa, with the average price set to decline even Rental & Lettings News
further over the coming months. Travel News

"The slowing year-on-year growth rate in the average house price

remains largely driven by weak demand growth, which in turn is the result of, firstly, a weak economy and its Property News Search
constraining effect on household income growth and, secondly, the high levels of household debt relative to
disposable income," the report said,
Search

In addition, strong residential supply, overhang from the building boom of a few years ago as well as high levels of
financial pressure are also playing a role in the price falls. News Archives

V iew wor ldwide pr oper ty news fr om as far

back as 2005 in our News Ar chives Section.

View News Arc hives

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