The Citizen Online | Should you rent or buy? - Business News
Housing prices have been coming down in real terms for much of 2011 and this negative growth trend is something that property analysts expect to continue for at least the rest of the year, probably longer.
With investment in residential property more likely to lose the average homeowner money in the near term, Citibusiness asks whether those consumers who have a choice should be opting to rent or to buy.
SA’s housing price boom, which saw year-on-year price increases of around 30%, began tapering off as far back as 2004, according to Absa’s senior property analyst, Jacques du Toit.
But it will come as no surprise that housing prices saw their strongest declines following the financial crisis of 2008/2009 with nominal housing price growth dipping sharply into the red for much of 2009.
They have never really recovered.
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