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Lightstone Residential Property Indices - October 2013

The latest report from Lightstone indicates that National annual inflation grew by 7.06% in the month of September and has remained fairly stable over the last couple of months.

The picture on provincial level for house price growth in the major provinces is lower than the national average, with KwaZulu Natal, Gauteng, Western and Eastern Cape showing growth between 5.00% and 6.00%. In the minor provinces such as Northern Cape, Mpumalanga, Limpopo and the Free State growth was between 7.00% and 7.74%, which lifted the national inflation.

The North West however bucked this trend by growing at about 10.40%, this might seem counter-intuitive (the house price growth in the more economically active provinces is lower in the less economically active provinces) but this can be attributed to the different mixes of properties found in the different provinces. It has been observed in the past that high value properties grow at a slower rate than low value properties. 

Read the whole Lightstone report 



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