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THE SOUTH AFRICAN PROPERTY ECONOMY
Financial Property Reviews / News
From a local South African Banks house price index – an
important gauge of the state of South Africa’s residential
property market - indicates that properties generally increased
in value at a rate of about 32% in 2004.
Although other major property players stats differ slightly and
suggest between 27% - 30%. This is a country average an does not
mean each province / town will have the same growth rate. Some
will enjoy a higher value and other less.
According to the same financial institution,
the latest monthly banks House Price Index, nominal year-on-year
growth of 32% was recorded in house prices in December 2004. The
revised growth for November came to 34%. Nominal growth of 32%
in house prices was recorded last year, compared with 21% in
2003
2005 - A slower increase in house prices is expected this year.
Emerging areas however may see greater appreciation and new
interest. |
