|Limpopo, with a 40,3% percent nominal and 35,7% real, recorded the highest South African provincial year-on-year house price growth in 2005 as measured by Absa, according to its Residential Property Prospective First Quarter 2006 released in Johannesburg this week. |
The next highest was in Mpumalanga with a nominal growth of 30,8% and 26,5% real followed by the Western Cape with a 26,5% rise in nominal terms and 22,4% in real.
The growth in other provinces were:
* Eastern Cape: 26,0% nominal and 21,9% real.
* Free State: 24,0% nominal and 19,9% real.
* KwaZulu-Natal: 23,0% nominal and 18,9% real.
* North West: 20,3% nominal and 16,4% real.
* Gauteng: 19,9% nominal and 16,0% real, and .
* Northern Cape: 19,1% nominal and 15,2% real.
In the country’s major metropolitan areas, nominal house price growth of between 28,0% and 18,7% was recorded by Absa in 2005. Real price growth in these areas varied between 23,8% and 14,8% last year compared with the previous year. Price growth in the metropolitan areas was as follows in 2005:
* Bloemfontein: 28,0% nominal and 23,8% real.
* Cape Town: 25,9% nominal and 21,8% real.
* Port Elizabeth/Uitenhage: 22,6% nominal and 18,6% real.
* Pretoria: 19,8% nominal and 15,8% real.
* Greater Johannesburg: 19,4% nominal and 15,5% real.
* Durban/Pinetown: 18,7% nominal and 14,8% real.