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April average house price growth 0% YoY

This beautiful 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

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.


How was this slowdown called in January already?


“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

 

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  • moladi 3rd May 2016

    “The average price of homes transacted in April was R1,061,075.” – “the FNB House Price Index for April 2016 rose by 6.4% year-on-year” What would the House Price Index be for homes under R600,000? A house of R1,061,075 would cost 1% per month or R10,000. To qualify one needs to earn X3 this amount or R30,000 per month. A small proportion of South Africans earn this type of pay packet vs the ones that earn R18,000 (and less) per month. The growth and need for homes are at the proverbial Base of the Pyramid – Below R600,000 Thank you David

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