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Absa House Price Indices
Absa - South Africa
In real terms, middle-segment house prices were down by 8,2% y/y in February, while declining by 7,6% y/y in January. House prices have been declining in real terms since August 2007.

In both nominal and real terms, house prices declined the most in the large segment on a year-on-year basis, and the least in the small segment in recent months. This is an indication of the upper end of the market being under much pressure, with more buyers opting for smaller and more affordable housing.

In the category for small houses (80m²-140m²), prices dropped by a nominal 0,6% y/y in March 2009 (-0,6% y/y in February).

The average nominal price of medium-sized houses (141m²-220m²) was down by 1,8% y/y in March this year (-1,6% y/y in February). This brought the average price in this segment of the market to R932 700.
Absa House Price Indices

March oobarometer shows 4.2% drop in annual house prices
Ooba.com - South Africa
The March oobarometer price index shows a decrease of 4.2% in year-on-year house prices.

"The March oobarometer continues to reflect the downward pressure on house prices and we expect continued pressure before some slight recovery toward the end of the year," says Saul Geffen, chief executive of ooba (formerly MortgageSA).

The average purchase price was R810,156 in March 2008 compared to R775,559 in March this year.

Land Registry celebrates historic signing
Egovmonitor - UK
Land Registry celebrated a milestone in its history when it registered the first mortgage to be signed electronically.

The mortgage, or "e-charge", in favour of Coventry Building Society, was signed electronically by the borrower and registered at 11:20 on 24 March 2009.

This landmark occasion marks an important step in Land Registry's programme of introducing new electronic services and helps to make property transactions easier for all.

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