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Real Estate Briefing - Categorized | Market Moves, Middle East and Africa more

South Africa prices ‘reduced by buyer fall’

Posted on 11 March 2009

From Businessday.co.za: With banks severely tightening lending and increasing the deposit on home loans since December, the property market is expected to suffer even more, with prices expected to decline further before recovering early next year.

The oobarometer index of ooba, formerly MortgageSA, yesterday showed that annual house prices fell a further 0,7% last month. According to the Standard Bank residential property report released last week, the National Credit Act’s tightening of the lending criteria is making getting finance tougher….. Full Article: Source


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