Price growth in the South African housing market slowed down further in July this year from June, as reflected by nominal year-on-year growth in the average value of homes in the middle segment of the market. Base effects and continued subdued month-on-month price growth in all the categories analysed are still impacting year-on-year price growth.
Based on recent trends in house price growth, nominal prices are forecast by ABSA to show single-digit growth for the full year. As a result of expected trends in nominal price growth and headline consumer price inflation in the rest of the year, relatively low real house price inflation is projected for 2013. […See more…]