Property prices in South Africa are expected to increase by an average of 2.2% over the next 6 months, according to a finders.com panel of economists.
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With South Africa’s prime lending rate currently at 7%, the lowest it has been in five decades, the panel of 25 economists put forward their analysis in the Finder’s repo rate forecast report - with a unanimous vote expecting the Monetary Council of the South African Reserve Bank (SARB) to hold the rate at their next meeting at the end of March.
The coastal area of Cape Town is expected to see the highest property price increase at 4.50%, while the coastal cities of Gbergha (Formerly known as Port Elizabeth) and East London could see below-average price increase of 0.93% and 0.64% respectively. Soweto and Pietermaritzburg are the only other cities forecast to see below-average growth below.
| City | Finders.com Forecast | Average Sale Price |
| East London | 0.64% | R1 045 000 |
| Gqeberha (also known as Port Elizabeth) | 0.93% | R840 000 |
| Pietermaritzburg | 1.14% | R937 500 |
| Soweto | 1.93% | R745 000 |
| 2.08% | R800 000 | |
|
Average
|
2.20% | |
| 2.38% | R635 000 | |
| Pretoria | 2.57% | R1 100 000 |
| Durban | 2.79% | R850 000 |
| Johannesburg | 3.07% | R1 050 000 |
| 4.5% | R1 650 000 |
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