Real year-on-year house price growth declines

Based on Absa’s calculations, the gradual slowdown in nominal year-on-year growth in the average value of homes in the middle segment of the South African housing market, which commenced in the fourth quarter of last year, continued in the second quarter of this year. Declining real year-on-year house price growth came on the back of slower nominal price growth and rising inflation in the second quarter. Price growth in the affordable and luxury housing segments also tapered off in the second quarter of the year. The widespread slowdown in house price growth up to mid-2015 came against the background of economic developments and trends in household finances and consumer confidence.
Read more – ABSA Housing Review 2015 Q3