But our valuers as a group have started to feel a demand weakening, following on our FNB Estate Agent Survey that saw close to zero year-on-year growth in its Residential Activity Rating in the 1st half of 2015. Although South Africa"s mining and manufacturing industries have been more greatly impacted by China"s recent stock market crashes, the residential property market will also be adversely affected as buyers lose confidence in the economy and unemployment levels potentially rise, John Loos of the SA Property Insider has claimed. The report comes after a survey conducted for the Reserve Bank showed that home prices fell to their lowest level since December last year - down almost 10 per cent from the peak reached just before Christmas.
Although South Africa"s mining and manufacturing industries have been more greatly impacted by China"s recent stock market crashes, the residential property market will also be adversely affected as buyers lose confidence in the economy and unemployment levels potentially rise, John Loos of the SA Property Insider has claimed. The report comes after a survey conducted for the Reserve Bank showed that home prices fell to their lowest level since December last year - down almost 10 per cent from the peak reached just before Christmas.