The property market is the canary in the mineshaft of the South African economy. If it is struggling, the broader financial situation is dire. It goes without saying that the overall economic situation currently is dire, so it’s no surprise that the experts are predicting that house prices could decline across the board by as much as 20% over the next few years.
It goes without saying that the overall economic situation currently is dire, so it’s no surprise that the experts are predicting that house prices could decline across the board by as much as 20% over the next few years. The property price bloodbath could well be exacerbated by people who have been laid off or put on short time having to give up their homes because they cannot continue with the bond repayments.