Reality bites in South Africa

Reality bites in South Africa

Tuesday, April 29, 2008

Homeowners in South Africa are being forced to take drastic action when selling their homes…

The Alliance Group - one of the country's largest auction and valuation groups – claims that asking prices for homes are falling as the reality of the market takes hold. Whilst this is clearly bad news for sellers, it’s good news for international investors looking for bargains.

Rael Levitt, Chief Executive of The Alliance Group, commented: “Homeowners are now setting asking prices at about 10% below their peak. The supply of houses being put up for sale has outstripped demand in the past three months, which is the first time this has happened in the past six years.

"There is no doubt that sellers are rapidly becoming far more flexible and realistic due to a flood of stock hitting the market with less and less buyer uptake.

"It's a classic case of supply exceeding demand and despite South African residential real estate experiencing growth of 300% in a relatively short time frame, reality is now dawning on homeowners that values don't only go upwards but are in fact now decreasing".

CLICK HERE TO PRINT THIS PAGE

CLICK HERE FOR OUR FULL NEWS ARCHIVE

Get this news on your website !

If you have a website, whether it is a personal homepage or a fully fledged estate agent service, you can get our news headlines included on your site. Both these newsfeed services give you the option of having the full news content from TheMoveChannel.com - not just the articles that appear on country subdomains such as this one:

Premium service

For just £25 / month, you can now have your own customised news service on your website. With the XML-based service, articles actually appear on a page on your site, making this a sticky feature that won't result in your traffic leaving. You have control over the display format to show your choice of headlines, dates and short article introductions and can apply your own style sheet or control the display format with XSL sheets. Finally, you can also set your subject preferences so that your feed only displays articles which are relevant to your site audience.

Premium Ultra service

For £40 / month you get all of the above, plus a fully functioning easy to use online admin system that allows you to add your own stories and articles into your news service.

Whether you want to post features, news of new properties or updates regarding the activity of your business, you can drop them in as frequently or as rarely as you like - everything integrates seemlessly. This allows you to have a more active involvement in the updating of your website, without the need to pay any external companies to do the work for you.

CLICK HERE FOR MORE INFORMATION

Top News Stories:

SA spiked by 'downward shift'
5/9/2008 - New figures reveal that house price growth in South Africa has fallen to an 8 year low…

Reality bites in South Africa
4/29/2008 - Homeowners in South Africa are being forced to take drastic action when selling their homes…

SA going from strength to strength
4/15/2008 - South Africa is one of the world’s top emerging markets, according to Forbes Magazine...

Sponsored listings:


All countries	Cape Verde	Australia	New Zealand	Morocco	Portugal	USA	Canada	Spain	Turkey	Investment


Privacy policy Terms of use Support Bookmark now! South Africa index						TheMoveChannel.com is a protected Trademark. Copyright © 2000 - 2008 On The Move Ltd. All rights reserved.