One is reminded of the late great David Frost’s remark: “With our backs to the wall we can only go forward”, when reading Seeff’s latest press release titled: “Best Property Buyers’ market in decades.”

Nominal house price growth of 15.4% year-on-year (y/y) was recorded in February from a revised 15.4% in January, according to the latest Absa House Price Index. This brings the average price of a house in the survey to 891,700 rand in February 2007.However, the researchers pointed to growth potentially levelling off again later in the year.

Nominal house price growth more than halved last year as buyers shied away from an already expensive housing market. According to the latest Absa house price index, nominal price growth declined from 30,8% year on year in January last year to 14,7% in December.

Hot listed property market has run ahead of itself, while speculators in residential real estate should cash in.

The rocketing residential property market is still showing no signs of slowing down, with a nominal year-on-year increase of 27,7% recorded in house prices in August this year, the highest since February 1982.