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‘Residential property market down, but not out’

The latest national residential property market research shows the market is experiencing a slow-down.

However, Pam Golding Property Group Chief Executive Dr Andrew Golding says the market is not completely dead.

Golding says the performance of the national housing market is largely a reflection of the trends in the housing markets of the three major regions: Gauteng, KZN and the Western Cape.

In these markets the performance of the regional economy, coupled with local demographic trends, ultimately determines both the level of activity and the rate of house price inflation.

The Money Show’s Bruce Whitfield interviewed Golding.

Scroll down for quotes from the audio below.

The market is cooler than last year.

Dr Andrew Golding

There is a decrease in house price growth and number of units sold.

Dr Andrew Golding

House prices rose by 5.8%.

Dr Andrew Golding

The Atlantic Seaboard in Cape Town is up by 25% year-on-year.

Dr Andrew Golding

Cape Town is way above the national average.

Dr Andrew Golding

We expect house price growth around 6%.

Dr Andrew Golding

Township property is growing around 11%. That’s significantly above the national average.

Dr Andrew Golding

The rental market is extremely buoyant.

Dr Andrew Golding

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