03.06.2009 - South Africa: Recession negates effect of rate cuts on home property market
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