News Residential

House prices grew by 0.29% between September and October

National year-on-year house price inflation was at 4.7% at the end of October – the third consecutive month of 5%-or-under growth.

According to the latest Lightstone Residential Property Index, house price growth of 0.29% was recorded between September and October 2021.

Inflation across the provinces portrays a mixed bag with the Eastern Cape, Gauteng, Free State, Gauteng, and Limpopo all trending down while KwaZulu-Natal, the North West, and the Western Cape on the up. Mpumalanga and the Northern Cape remained unchanged.

Inflation in the low-value segment i.e., homes priced R250 000 or less, continues to outgrow that of the higher value segments with prices currently growing at 10.4%, almost double the growth of the mid-value segment (53%) i.e., R250 000 to R750 000.