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S.Africa: Housing market begins 2013 on weak footing, says FNB

Posted on 11 January 2013

The end of the major strike disruptions of late 2012 should lead to some better economic growth quarters early in 2013, but the housing market has begun the year on a very weak economic footing, John Loos, FNB’s household and property sector strategist, said on Thursday.
“We expect house price growth for the year 2013 as a whole to be slightly more subdued than 2012, and pencil in a nominal average rise of 2.5% for the year,” Mr Loos said. With consumer price inflation expected to average 5%-6% in 2013, that implied a further fall in real prices, he said………………………………………..Full Article: Source

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