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South african property market has slowed

Posted on 09 March 2012

Last year property prices in South Africa fell by 2.6%, a disappointing result, especially as prices rose 2.7% in 2010, and a far cry from the boom years of 2000 – 2006 when prices grew by an average of 20% every year.
Property price growth reached its peak in October 2004, with annual growth of 32.5%. However in 2008 the boom came to an abrupt end in the wake of the global financial crisis. In 2010 prices briefly recovered which was partially due to South Africa hosting the FIFA World Cup, but any real recovery was held back by worries over economic growth and rising inflation………………………………………..Full Article: Source


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