Posts Tagged ‘residential property’
Median House Prices Down 4,6% for October
It seems as though the residential property market might be stabilising and that interest in residential property is returning. Standard Bank’s property book January to October 2009 revealed an average monthly decline of 4,3% in the median house price, making it the 17th consecutive month of declines.
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2010 Predicted to be a Good Property Year
Real estate heavyweights predict that 2010 will be a great property year. Absa’s home loans’ boss says that he sees “light at the end of the tunnel and no train in sight”. Home loan applications were up by a dramatic 20% in September and approvals at Absa for residential mortgage applications are also up.
It seems as though people are more positive because the affordability levels are back to around the 2007 levels. Banks will grant more in mortgage finance because of the fallen interest rates since December.
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