This is according to Lightstone’s House Price Index for July 2021. Data suggests that the Eastern Cape is the top-performing province with a house price growth of 8.3%, followed closely by Mpumalanga.
Market review:
National year-on-year (y/y) house price inflation is at 5.07%, a five-year record high. Inflation has been rallying across all provinces except the Western Cape which corrected for a while and is now slowly catching up. The lower value segments continue to buck the trend by growing at more than 6.5%, a two-percentage point performance above their higher value counterparts.
Provincial inflation:
The Lightstone Provincial Index tracks annual inflation of all the provinces in South Africa:
Municipal inflation:
The Lightstone Municipal Index tracks annual inflation at a municipal level, with coastal and inland based municipalities reviewed independently:
Property inflation: coast versus non-coast
The Lightstone Coast vs Non-Coast Index compares property located within enumerator areas 500m of the coastline to those located further inland:
Property inflation: freehold versus sectional title
Property inflation: value bands
The Lightstone Area Value Bands Index reviews inflationary rates for property based on the following values:
- Luxury: >R1.5m
- High Value: R700k to R1.5m
- Mid Value: R250k to R700k
- Low Value: <R250K
Inflation table
The Annual Inflation Table (below) provides a long-term view of annual rates of inflation for various geographical areas and property types. Please note that historic inflation rates can change as transactions occur that imply price inflation for those periods:
