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S.Africa: Property market sentiment worsens

Posted on 16 July 2009

From Realestateweb.co.za: Expect to wait at least five months to sell a house through an estate agent. That’s the message contained in the results of the latest quarterly FNB Residential Property Barometer, released this week.

Demand for residential property is still very low while there is an oversupply of properties on the market. Estate agents canvassed in the survey believe “ongoing strict banks’ lending criteria, especially when it comes to widespread deposit requirements on new loans, are a major constraint on demand”, said FNB in a media release……..Full Article: Source


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