Residential property price growth (year-on-year) slowed to 1.9% in November from 2.6% in October, according to the FNB House Price Index.
Considering inflation of 6.4% in October – the latest available figure – real house prices are falling.
House prices are down 4.3% in real terms since December 2015 and down 21.9% since December 2007.
FNB expects real house prices to continue falling – by around 3% - throughout 2017.
The Money Show’s Bruce Whitfield interviewed John Loos, Household and Property Sector Strategist at FNB.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
The Western Cape is bucking the national trend.— John Loos, FNB
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