Monday, 21 January 2008

PROPERTY PRICE GROWTH - IN YOUR DREAMS BUDDDY!!!!


So did you hear .... Residential property price growth as measured by the Standard Bank median house price index was recorded at 0.0% year on year in December 2007. This must really make those sellers who want to make millions in selling houses very itchy indeed.


Lower volumes than past year-end experiences and an increase in the proportion of lower-priced homes in the book must have pulled the median house price downward. Must be the bite of Tito at work together with inflation, wild spending and blah blah


If we South Africans could be as diligent with our money as we are with throwing rubbish out of the car windows we would have an interest rate of 8.5% and inflation of 3% -........MMMMMMMm - had to stick this in as I'm so tired of seeing people litter- wheres the pride man!!!!


So, the median house price was stuck in the R550,000 to R620,000 range in 2007. 2008 could very easily see a single-digit growth, lets say between 2% and 5%. This would be something especially for house buyers.


Maybe now we will see some decent developments at under R 1m for younger folks and not little hell holes vs palaces. Who knows we may just find a great developer who's margins are slightly less but offers all the great bells and whistles! Who knows!!


Maybe its time to start bargaining for better prices????????


Lets see..what pops out the wood works.

3 comments:

Chris M said...

Just leaving you a comment behind, so you know I'm still around and reading :)

Chris "The MAGE" said...

thanks squire - we could use your views though what you thinks going to happen next

philippine real estate said...

Great article here. Hoping to read more. Keep it up.

Paula M