Absa housing review reveals current trends, indicators in SA housing market
The 4th quarter 2011 Absa Housing Review finds that in real terms, house prices are expected to continue to decline in the rest of the year and next year on the back of rising headline consumer price inflation. This is forecast to marginally breach the 6% level by the end of the year and for part of next year.
The report also finds that, among a range of other contributory factors, the performance of the economy, but especially labour market conditions are affecting consumers' demand for, access to and affordability of credit.