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Low- and mid-value housing band grows strongest

Woodhill home resizeNational house price inflation was 5.45% at the end of June 2016͘, according to property data company, Lightstone. This is slower than Consumer Price Inflation for June which was 6.3%.

The Western Cape led the provincial growth at a rate of 7.6%, while buoyant growth was still observed in the Gauteng metro with Ekurhuleni, City of Tshwane and City of Johannesburg growing at a rate of more than 4%.

While property inflation in Nelson Mandela Bay metro and Ethekwini continues to grow at roughly 4%, City of Cape Town continues to show exuberant growth at just above 10% per annum.

The low (< R250,000) and mid (R250,000 to R700,000) value segments continue to buck the market trend by growing by more than 8% annually while the high (R750,000 to R1,5m) and luxury (>R1,5m) value segments are inflating at a rate closer to 3% per annum.


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