The annual house price inflation rate in the low value segment has decrease from 10.2% to 2.5%.
- Contrary to expectations, housing prices did not “crash” during 2020, according to a new index report by Lightstone.
- The index report shows that the mid-value segment ended 2020 at an annual house price inflation of 4.9%.
- In the low-value segment, house price inflation has, however, decreased from 10.2% to 2.5%.
National house price inflation was 3.05% as at the end of December 2020 compared to a year earlier, according to the latest Lightstone Residential Property Index released on Monday.
House price inflation means the percentage at which house prices increased over the year in nominal terms; therefore, not taking general inflation into account.
On a provincial level, house price inflation was 3.1% in Limpopo; 5.7% in Mpumalanga; 4% in KwaZulu-Natal; 3.9% in the North West; 1.9% in Gauteng; 3.1% in the Northern