According to the ABSA house price index, year-on-year growth in the average value of homes in the middle segment of the South African housing market increased further in November 2012. Month-on-month price growth, however, continues to be on a downward trend, which is expected to affect year-on-year price growth in the near future.
Relatively low nominal house price growth is forecast for the next twelve months, and with headline consumer price inflation projected to average around 5,5% in 2013, some real house price deflation may still occur for most of next year.
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