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South Africa: Recession negates effect of rate cuts on home property market

Posted on 03 June 2009

From Allafrica.com: FNB property strategist John Loos yesterday said that selling due to financial pressure was a key driver of supply.

Last month’s decline in house prices represented a deterioration on the revised 9,2% rate of year-on-year decline recorded in April. Month on month, the rate of deflation was 3% last month …….Full Article: Source


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