4 graphs about the state of the housing market
The latest numbers from the property research group Lightstone shows that house prices rose by 3.4% in the year to end-April. The market has been ranging in the 2% - 5% zone for some time now.
The Western Cape continues to outperform the rest of the provinces with an annual rate of 5.7% despite a drop of more than 3 percentage points in the last 12 months.
After lagging inland properties for many years, coastal properties continue to outperform. Inland municipalities Ekurhuleni, City of Tshwane and City of Johannesburg metros are growing stably at rates between 2% and 4%, whereas the coastal municipalities are generally performing above this range.
Cheaper properties are seeing much more strong growth than the rest of the markets. The low (R250,000 to R700,000) and mid (R700,000 to R1,5 million) value wealth segments continue to growing at more than 4% annually.
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