South Africa property decline 'easing'

South African property prices declined in the second quarter of 2009, but by less than in the previous three months, new figures have indicated.

According to the Knight Frank Global House Price Index, prices dipped by 1.4 per cent in the second quarter.

However, this was less than the fall of 1.8 per cent in the three months to March, which may have marked the peak of the decline after a 0.7 per cent dip in the last quarter of 2008.

Such findings might suggest the bottom of the market in South Africa has been nearing over the summer.

And prices may now be rising there, with the latest First National Bank house price index recording a 1.8 per cent increase in July.

Thousands of Britons may become interested in buying in South Africa after visiting the country during the next year for major sporting events.

The England cricket team tours there this winter, while the football squad guaranteed their qualification for next year's World Cup by beating Croatia this week.

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