Prices are down at least 15% even in the best area of South Africa. Some suburbs are down 30% year on year. Just because the advertisied prices are still doesnt mean prices are not down. Look at the prices being registered at the deeds office and you will see the price declines.
3 comments:
I would hope that people are now more sceptic about the statements from bankers, real estate agents and others who benefit from rising house prices.
But I suspect that people are still eating up what these guys are saying, even though they have been proven wrong time and again.
But I don't see prices in the papers looking any lower yet!! Will it happen?
Prices are down at least 15% even in the best area of South Africa. Some suburbs are down 30% year on year. Just because the advertisied prices are still doesnt mean prices are not down. Look at the prices being registered at the deeds office and you will see the price declines.
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