The rate of house price inflation is “hugging” the zero level, according to FNB household and property sector strategist, John Loos.
Though the FNB House Price Index for April 2016 rose by 6.4% year-on-year, the Consumer Price Inflation rate of 6.3% for March eroded any significant gains.
“Zero percent real house price inflation would suggest a market still very well balanced between supply and demand,” said Loos. “The average price of homes transacted in April was R1,061,075.”
Photo: This split-level home is situated on a 4,370m² stand which can be sub-divided into four stands of approximately 1,000m² each. Situated in Bassonia, Johannesburg, it is on the market for R5m. http://bit.ly/1V0W8Jz