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Residential Property Indices July 2017

MARKET REVIEW - Information supplied by Lightstone

As at the end of June 2017 the national house price inflation index was at 3.9 %. Looking at the overall picture at provincial level the market has evidently stabilized in the 3%-7% range after a slowdown over recent months. The Western Cape, Eastern Cape and Mpumalanga province are still slowing down trailing this category of indices, with the latter dropping near the 0% mark. Contrary to other provinces the Northern Cape continues its optimistic growth currently at an unrivalled 20.2% per annum. Showing optimism as well and good recovery is the Limpopo index which has broken above the stability range. The inland municipalities Ekurhuleni, City of Tshwane and City of Johannesburg metros are growing stably at rates between 2% and 6% 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. Both the Low value and Mid value wealth segments continue to buck the trend by growing at more than 7% annually. The High and Luxury wealth segments are inflating at rates below 3% with the Luxury inflation testing the 0% rate.

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