at its lowest level of -3,1% in January 2009.
According to the latest Lightstone House price index released on Monday, extending the index forward to August 2009 using bank application data showed that annual house price inflation had reached 0,2%.
Should this trend be confirmed as the Deeds Office data starts to come in for the June to August period, it will show that South Africa has actually just moved into positive nominal house price appreciation for the first time since July 2008, said Lightstone.
According to the index, at a segment level, the Eastern Cape/Nelson Mandela Bay area was showing strength with inflation moving to between 4% and 5% year on year.
Tshwane appeared to be lagging the other metropolitans while on a value-based view, the luxury market was the worst performing.
The hardest segment to interpret appeared to be the affordable segment, which despite showing good annual growth this month (+12,1%) had been very volatile over the last few months.
"We will continue to monitor its performance closely," said Lightstone's director, Andrew Watt. – I-Net Bridge
Readers' Comments
Have a comment about this article? Email us now.
Print
