South Africa's housing market weakens after FIFA World Cup
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The average price for mid-sized houses in South Africa rose 0.23% during the year to Q2 2011. When adjusted for inflation, prices actually dropped 4.65%. The property market started to weaken after the 19th FIFA World Cup, held in South Africa from June to July 2010.
The average price of medium-sized houses rose slightly by 0.72% during Q2 (but fell -0.65% in real terms) to ZAR973,400 (US$141,553), according to ABSA, one of South Africa’s largest financial services companies.
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