The Estate Agent Cull Hits Sea Point

The Atlantic Seaboard is supposed to be one of the hot spots of the property market in South Africa, supposedly immune to the turbulence elsewhere. But down on the street it's not so rosy. Reader PJ writes:

Took a walk down Sea Point Main Rd and saw that two agencies have recently closed (International Realtors, Wendy Machanik Properties) and one moved to a smaller office (Lew Geffen Sotheby's).