National house price inflation was 5.45% at the end of June 2016. Western Cape leads the provincial growth at a rate of 7.6%. Buoyant growth is still observed in Gauteng metro with Ekurhuleni, City of Tshwane and City of Johannesburg growing at a rate of more than 4%. While property inflation in Nelson Mandela Metro and Ethekwini continues to grow at roughly 4%, City of Cape Town continues to show exuberant growth at just above 10%. The Low and Mid value segments continue to buck the market trend by growing by more than 8% annually while the High and Luxury segments are inflating at a lower rate closer to 3% per annum.
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The latest Lightstone House Price Indices report for residential property is now available in their online newsroom.
Source: Lightstone Property