As at the end of May 2018, the national house price inflation index was at 4.0 %. The market is currently ranging in the 2% – 5% zone following a slow down in recent months as shown by the provincial indices.
This is true for most of the provinces except the Western Cape and Northern Cape; the Western Cape is currently growing at an unmatched annual rate of 10.6% and Northern Cape is on the other extreme end with a growth rate of 1.1% per annum.
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 2018