House price inflation still low, report shows

NATIONAL year-on-year house-price inflation is at 4.35%, marking a fourth consecutive month of growth under 5%, states Lightstone’s latest Residential Property Index.

Inflation, as at the end of December, remained steady in the Eastern Cape, Gauteng, Limpopo and Mpumalanga, and increased in the North West, Northern Cape and Western Cape.

Price growth decreased in the Free State and KwaZulu- Natal.

The report also reveals that house prices in the “low-value” segment (less than R250 000) continue to outgrow those in the higher value segments, with the inflation rate for this segment currently at 9%, almost double that of the “mid value” segment (R250 000 to R700 000) at 4.9%.

LIGHTSTONE RECORDED PROVINCIAL INFLATION AT:

Northern Cape 7.5%

Eastern Cape 7.3%

North West 7.3%

Western Cape 7%

Free State 6.5%

KwaZulu-Natal 5.2%

Limpopo 5.2%

Mpumalanga 5%

Gauteng 4.7%

A REPORT reveals that house-price inflation is still growing at less than 5% nationally. PICTURE: LASZLO ZAKARIAS/PIXABAY