RTTNews - South African house prices fell 4.4% year-on-year in June in nominal terms, reports said Monday, citing data released by the Absa bank. The decline was reportedly the biggest in 23 years. In real terms, prices dropped 11.1%.

According to reports, Absa said price deflation is expected to continue for the rest of 2009 and the pace of fall would ease towards the end of the year.

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