It was reported in the Sunday Times today (11 May 2008)

that house price growth is at an eight-and-a-half year low. This is indicated by the April results of the ABSA House Price Index.

Growth slowed to 6.8% year-on-year (in the middle section of the market)- down from 7.6% in March. It was further reported that this was the fourth consecutive month of single digit growth in nominal house prices since the 11.2% growth recorded for December 2007.