As at the end of April 2018, the national house price index was 3.9%.
The property market has since broken above the 2% – 5% following a consolidation in that zone (as shown by the provincial indices). This is true for the most of Lightstone’s indices, except for coastal provinces in the east, namely the Eastern Cape and KwaZulu-Naal, as well as the Western Cape; these are slowing down with KwaZulu-Natal being the only one to break below the zone.
The inland municipalities (Ekurhuleni, City of Tshwane and the City of Johannesburg metros) are growing stably at rates between 3% and 6$ 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