IEASA National - News

Dbn Super Luxury Market Holds Firm   Article Date :31 Jul 2006 Residential) Reports of a national cooling down in the top end of the residential property market may be true, but in the case of Durban’s super luxury markets of both Kloof and Umhlanga the recent decrease in sales volumes appears relatively minor, only apparent in certain price categories and not a result of bubble condition or even waning market faith. Estate agents this week unanimously blamed the slowdown in the shrinkage in the number of active investors; market rebellion peaking at over pricing and the slowdown in upgrading particularly among middle management or small business owners nervous of rate hikes. The emphatic general consensus was not that of a slowdown in the two suburbs, but of a market settling into normal trading patterns. CLICK HERE TO RETURN TO THE MAIN NEWS PAGE