That’s another mistake that even many economists make. Although South Africa"s mining and manufacturing industries have been more greatly impacted by the recent stock market crashes , the residential property market could also be adversely affected as buyers lose confidence in the economy and unemployment levels potentially rise , John Loos of the SA Business Insider has claimed . Estate agents have already seen a drop in real estate activity levels throughout 2015 , as well as a slowing in house price growth , and China"s crashes could turn slow growth to " all out decline " ; the extent of the decline depends on how well China recovers from so - called " Black Monday " .
Although South Africa"s mining and manufacturing industries have been more greatly impacted by the recent stock market crashes , the residential property market could also be adversely affected as buyers lose confidence in the economy and unemployment levels potentially rise , John Loos of the SA Business Insider has claimed . Estate agents have already seen a drop in real estate activity levels throughout 2015 , as well as a slowing in house price growth , and China"s crashes could turn slow growth to " all out decline " ; the extent of the decline depends on how well China recovers from so - called " Black Monday " .