Real house prices are falling (and the declines are gathering pace)

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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