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House price growth in 2005

House prices last year grew by a whopping 32.1 percent, the best performance since the gold boom days of the early 1980s. However since September last year the pace has gradually started slowing down and should range between 15% and 20% this year. Among the drivers of the boom according to Jacques du Toit, a senior economist at Absa, were the low interest rates, individuals' increased disposable incomes, a strongly growing economy and increased buying power from the emerging black middle class.

Article in Business Report

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