National y/y house price inflation dips below 5% for the first time since March

National year-on-year (y/y) house price inflation is at 4.89%, dipping below the 5% mark for the first time since March 2021, according to Lightstone’s latest Residential Property Index.

Inflation continues to grow across most provinces, except for Limpopo which has again, come in lower than August 2021, and Mpumalanga and the North West which have both remained steady.

Inflation in the Low Value segment continues to outgrow that of its higher value counterparts, with prices currently growing at 12.3%, more than 6 percentage points ahead of the Mid Value Segment (5.9%).

National inflation

Current annual inflation rate is 4.89% and monthly is 0.32%.

Provincial inflation

The Lightstone Provincial Index tracks annual inflation of all provinces in South Africa:

Latest / current provincial inflation status

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: > R1.5 million

High Value: R700 000 to R1.5 million

Mid-Value: R250 000 to R700 000

Low Value: <R250 000

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: