As at the end of December 2017, the national house price inflation index was at 4.1 %.
Over the past couple of months, the majority of market activity has stabilized in the 3%-8% range following a slowdown in recent months as shown by the provincial indices. This is true for most of Lightstone’s indices except for the two top-tiers; the Western Cape and Northern Cape province, which are currently growing at 11.0% and 20.7% respectively.
The inland municipalities Ekurhuleni, City of Tshwane and City of Johannesburg metros are growing stably at rates between 2% and 5% whereas the coastal municipalities are generally performing above this range. This relationship extends to all coastal and inland properties as shown by their respective indices.
Both the ‘Low Value’ and ‘Mid Value’ wealth segments continue to buck the trend by growing at more than 6% annually whilst the ‘High’ and ‘Luxury’ wealth segments are inflating at rates below 4%.
Read more here: Lightstone Residential Property Indices January 2018