Guiding consumers since 2009

House prices continue to fall

By Staff Writer

By Roy Cokayne, Business Report

House prices, excluding the effect of inflation, were in line for a drop of about 6 percent on average this year, with a further decline of 3.3 percent next year, Jacques du Toit, an Absa senior property analyst, said yesterday.

Market activity and both nominal and real house price growth were forecast to taper off further this year and into next year.

Absa's latest house price index, released yesterday, shows that real house prices dropped by 6.3 percent year on year in May, the fourth consecutive monthly decline and the biggest since April 1993, when it was minus 7.7 percent.

Justmoney.co.za says:

Following on from news by originator Ooba that 50% of home loan applications were declined in June, times do not look good for property sellers and buyers. However Justmoney.co.za's home loans section can help you find the best solution.

Recent Articles

Featured The bank took money from my account – is this allowed?

You’ve just deposited money into your account and suddenly you see a notification from your bank. Money has been deducted from your account to pay the outstanding debt that you have with the bank. Is this allowed?

How much does it cost to draft a will?

Having a Will allows you to determine who inherits your property when you die. If you die intestate, the government will determine how to distribute your assets. Many people die intestate because they don’t know how to draft a will or are intimidated by the costs of drafting one.

Is your home correctly priced for the current market?

The property market is typically in either one of two phases, a buyers’ market or a sellers’ market. According to real estate experts, we are currently in a buyer’s market. For this reason, it is important as a seller to correctly price your house to ensure interested buyers and a valuable sale in the end.

Fuel rewards programme – how to fill up on petrol and points

South Africa’s volatile economy has often meant that factors like the fuel price bear the brunt. This year alone the country’s fuel price has fluctuated by between R1.50 to almost R3, which has put increasing pressure on motorists. That said, many of the bigger South African brands have provided some relief by way of fuel rewards programmes.

Deals

Wax On Wax Off Wednesdays at Rouge Day Spa

Price: From R50
When: Wednesdays
Where: Cape Town

Aarya Restaurant Christmas Lunch Special

Price: R425
When: 25 December 2019
Where: Johannesburg

Da Vinci’s Tantalising Tuesday Pizza Special

Price: Available on request
When: Tuesdays
Where: Cape Town