As at the end of September 2019, the national house price inflation index was at 2.9%. The market has been ranging in the 2% – 5% zone for some time now following a slowdown in recent months as shown by the provincial indices.
Over the past few years, the western Cape’s performance were unrivaled but its slowdown in the last two years has seen it come second to the optimistic Limpopo province that is now growing at 5.9%. The inland municipalities Ekurhuleni, City of Tshwane and City of Johannesburg metros are growing stably at rates between 1% and 4% 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. The low and mid value wealth segments continue to buck the trend by growing at more than 4% annually whilst the rest are inflating at rates below that.