South Africa’s property market is witnessing stabilization as average nominal house prices rose by 2.8% within the last year, slightly below the consumer price index at 3.2%. Data from BetterBond's March brief reveals year-on-year price growth across seven provinces, though only four provinces demonstrated real price increases when adjusted for inflation. Mpumalanga stands out with a significant 5.1% real growth. Additionally, there has been a notable uptick in home loan applications and grants, suggesting a gradual recovery in consumer confidence amidst rising concerns about rental prices due to increasing numbers of digital nomads in Cape Town.
According to BetterBond's latest property brief, seven out of South Africa's nine provinces experienced year-on-year growth in nominal home purchase prices up to February 2025, indicating overall market recovery.
Despite the increase in nominal house prices, only four provinces showed real price growth when adjusted for inflation. Mpumalanga led with 5.1% real growth, showcasing regional disparities.
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