Finweek English Edition - - Economic Trends -

AS THE WORST of the eco­nomic re­ces­sion seems to be over, the res­i­den­tial prop­erty mar­ket is be­gin­ning to show some signs of re­cov­ery. Ac­cord­ing to the Absa House Price In­dex, an­nual growth in res­i­den­tial prop­erty prices turned pos­i­tive in Au­gust 2009. This trend has con­tin­ued into 2010. Con­sumer con­fi­dence con­trib­uted to the re­cov­ery. But mort­gage credit growth sug­gests banks are still re­luc­tant to lend.

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