Year-on-year price deflation was still widespread as at the second quarter of 2009 in many regions of Greater Joburg.

However, there were a few of the regions that were starting to appear to be turning for the better, either in terms of year-on-year price deflation starting to level out, diminish, or in some instances a rise in price inflation.

• Soweto (average price = R290 611) showed y/y (year-on- year) price inflation of 1.2 percent in Q2 2009, but remained in mild deflation on a q/q (quarter-on-quarter) basis to the tune of -0.1 percent.

• Lenasia (average price = R364 496) slipped into price deflation with a Q2 y/y decline of -1.2 percent.

• Randburg (average price = R936 478) showed price deflation of -9.8 percent y/y in Q2 2009.

• Roodepoort (average price = R923 936) showed slight price deflation of -1.6 percent.

• Midrand, an area of huge property development in the past decade, and thus probably of major oversupply, (average price = R893 097) showed price deflation of -7.1 percent y/y in Q2 2009.

• Sandton (average price = R1.465-million) showed price deflation of two percent.

• The Near East (Alberton, Bedfordview, Edenvale, Kemptonpark, Germiston) (average price = R852 888) showed price deflation of -5.8 percent y/y in Q2 2009.

• Middle East (Benoni, Boksburg, Brakpan) (average price = R785 348) showed price inflation of +2.7 percent, an improvement on the previous quarter.

• Far East (Nigel, Springs) (average price = R501 215) showed price deflation of three percent, also improving on the previous quarter.

• Ekurhuleni Townships (average price = R269 943) showed inflation of +4.4 percent y/y but still decelerating.

Interpretation/Conclusion on page three...