Lightstone Property has released its Residential Property Index for August 2021.
National year-on-year (y/y) house price inflation is at 5.03%, marginally down from the 5-year record high recorded during May and June 2021. Inflation has been rallying up across all nine provinces except for Limpopo which has experienced a slight drop-off from last month. Inflation in the ‘Low Value’ segment continues to outgrow that of its higher value counterparts, with prices currently growing at 11.2%, more than 4 percentage points ahead of the ‘Mid Value’ segment (6.4%).
The Lightstone Provincial Index tracks annual inflation of all provinces in South Africa:
Latest / current provincial inflation status
The Lightstone Municipal Index tracks annual inflation at a municipal level, with coastal and inland based municipalities
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: > R1.5 million.
- High value: R700 000 to R1.5 million.
- Mid value: R250 000 to R700 000.
- Low value: <R250 000.
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: