Is affordable housing facing a sub-prime crisis? Rode.co.za - South Africa
Monday, May 18, 2009
The most recent residential property indices released by Lightstone indicate that the latest victim of the market downturn could be the one segment that has until now withstood the fallout.
Price wise, the affordable housing market has been the top performer over the past few years. But signs are now emerging that a price collapse might be on the horizon. According to economist John Lottering of Rode & Associates: 'Lightstone's research shows that, on a month-on-month annualised basis, prices in the affordable category are currently showing the largest contractions. In January 2009, the annualised monthly growth rate was a staggering minus 28%.' The affordable category represents houses of R250 000 and below Rode
Selling your property? RealEstateWeb- South Africa
Estate agents and auctioneers give the pros and cons of property selling methods available.
Although interest rates are coming down, many sellers sit with their properties for much longer because sales are either slow or there are too many bargains to choose from. RealEstateWeb
March Building Stats FNB - South Africa MARCH BUILDING STATS ONCE AGAIN CONFIRM THE MAJOR RESIDENTIAL FIXED INVESTMENT CUT-BACK BY THE HOUSEHOLD SECTOR
Building Stats for March 2009 complete the picture for residential building for the first quarter, and confirm the view that 2009 looks set to be a very weak year for sectors linked to residential property fixed investment. For the first quarter as a whole, the number of residential units completed declined by - 10% year-on-year (compared with -1.7% in the previous quarter), while on a per square metre basis the year-on-year rate of decline was - 5.8% in the first quarter (compared with - 2.9% in the previous quarter). March Building Stats
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