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Property pain: new stats [11/2/2007]

Sale in execution figures show who is being forced to give up properties as interest rates, inflation bite - and where you can find bargains. Rising interest rates and inflation are hitting ordinary home owners far more than those with properties at the luxury end of the market. Sales in execution figures contained in the Lightstone Residential Property Indices report released on Thursday show that owners of properties worth less than R1,5m are having their homes sold from under their feet the most. The biggest number of homes up-for-grabs after banks pulled the plug on funding are so-called mid-value homes - worth R250 000 to R700 000. Next up are township homes and so-called high value homes, or those in the price category of R700 000 to R1,5m.

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