| Escombe | 10 Cowell St, Queensburgh | 810000 | 790000 | 760000 |
| New Germany | 32 Lewis Walter St | 760000 | 760000 | |
| The Wolds | 11 Glockner St | 785000 | 765000 | |
| Waterfall | 142 Valley drive | 850000 | 830000 | 800000 |
| Westville | 58 Severn Drive | 900000 | 850000 | 800000 |
| The Wolds | 8 Janine St, New Germany | 795000 | 775000 | |
| Crestview | 44A Rainbow Drive, Waterfall | 930000 | 895000 | |
| Escombe | 20 Philips Rd, Queensburgh | 770000 | 770000 | |
| Caversham Glen | 17 Plymouth Rd, Pinetown | 795000 | 750000 | 740000 |
| Malvern | 9 Rodney Rd, Queensburgh | 850000 | 830000 |
30 October 2007
Asking Prices in Durban
Reader SZ sent us this spreadsheet of asking prices on houses he's been keeping his eye on in Durban. It seems like people are deciding it's better to die by a large number of small cuts than rather price downward in one big cut. I call that catching a falling knife. A number in green means that the price was reduced from some higher price. A number in red means that the property was removed from the market and then brought back on, an old trick agents use to pretend like the property is brand new on the market.
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3 comments:
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Hi CT Bubble,
Off topic, but I thought the following might be worth a posting:
On Property24 today (and geez, what an evil site that is, just Press Release Anonymous), a piece headlined 'Tap property value without selling'. In a nutshell, it's urging SA homeowners to tap into home equity. HOW EFFING STUPID/CRIMINAL ARE THESE FREAKS? Have they not see what's going on across the pond?
The intro paragraph is especially evil. Dig this. "It's common cause that less than 5% of South Africans have sufficient retirement income, but unlocking the value in their properties can go a long way towards a solution."
Er, let's see. You're hopelessly underprepared for retirement, so now it's time to use your house as an ATM, so that when you retire after prices have dropped 20%, you can...what? Eat dog-food in your soon-to-be-foreclosed house?
Somebody needs to sue Media24 and their ilk for deliberately misleading the public.
Nice ... it is happening right on schedule ... think we need to pass the info on to Moneyweb at some stage just to depress the few remaining bulls even more :-)
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