South African house prices have now had SEVEN months of consecutive falls (both in nominal and REAL terms). Real house prices are falling faster than nominal prices as CPI continues to remain above 6%.
In March 2012 real house prices fell a further 2.23% from where they were in Feb 2012.
Now have a look at the pattern of the Rodrigues curve for South African house prices over the last 12 months here:http://housepricesouthafrica.com/predictions/
The South Africa curve appears to have passed the “return to normal” phase of the Rodrigues curve and has resumed a downward trajectory once more..