Based on Absa’s calculations, year-on-year growth in the average value of homes in some categories of housing in the middle segment of the South African residential property market appears to have reached an upper turning point. As expected for some time, base effects and slowing monthly price growth since mid-2012 have caused year-on-year price growth to start moderating.
Nominal price growth for the full year is forecast to be in single digits, with real price trends to be driven by a combination of nominal price movements and consumer price inflation.[…read full report here…]
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