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Price inflation: Some good news

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As at the end of September, national annual house price inflation was at 2.9%, according to Lightstone’s latest residential property index.

This is a drop from the 3.25% at the end of August. Monthly inflation is 0.21%.

The Western Cape continues to hold the second-highest price growth of 4.5% (down from 4.6% last month), behind Limpopo’s 5.9% and up from 5.4%.

House price growth in other provinces (compared to the end of August):

◆Eastern Cape: 3.4% (from 3.2%)

◆KwaZulu-Natal: 2.5% (from 2.2%)

◆Gauteng: 1.9% (from 2.1%)

◆Northern Cape: 2.7% (from 1.7%)

◆Mpumalanga: 1.9% (from 1.6%)

◆Free State: 1.6% (from 1.5%)

◆North West: 0.5% (from 1.3%).

“Our inland municipalities – Ekurhuleni, City of Tshwane and City of Johannesburg metros – are growing stably at rates between 1% and 4%, whereas the coastal municipalities are generally performing above this range.

“The low- and mid-value wealth segments continue to grow at more than 4% annually,” Lightstone states.

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