House prices slump in some parts of the country

House prices are decreasing in some parts of South Africa, according to property economist at FNB, John Loos.

If one looks at our index for past five months - it's on a month basis - it's on a decline.

John Loos, property economist at FNB

By now there would be price deflation in certain areas when you get to a national index that low.

John Loos, property economist at FNB

What we have seen is an economy...that's grown slowly since 2012.

John Loos, property economist at FNB

Loos says the prices may start going up again when the economy and interest rates increase.

Towards the end of this year you might see some sort of a pick up again in house price growth because we do expect some pick up in the economy.

John Loos, property economist at FNB

Listen to the audio below for more information...


This article first appeared on 702 : House prices slump in some parts of the country


Recommended

by NEWSROOM AI
Read More
Zuma's 2.9% economic growth target is over the top - economist

Zuma's 2.9% economic growth target is over the top - economist

Chief economist at Econometrix, Dr. Azar Jammine says the economy will only improve by about one percent compared to last year.

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

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

November was the seventh consecutive month of slowing price growth. And there is no end in sight, according to FNB.

‘Residential property market down, but not out’

‘Residential property market down, but not out’

The residential property market in South Africa is struggling but not completely dead, argues Pam Golding’s Dr Andrew Golding.

Why Capetonians might be less affected by the property price dip than Joburgers

Why Capetonians might be less affected by the property price dip than Joburgers

It may be a tricky year ahead for those invested in the property, with house prices predicted to decline over the next 12 months.

Why SA property prices may drop in 2016

Why SA property prices may drop in 2016

The residential property market in South Africa faces the possibility of real price deflation over at least the next 12 months.

The future looks bright for South Africa's township property market

The future looks bright for South Africa's township property market

South Africa is experiencing a catch up game between townships and suburbs, according to professor Viruly of UCT.

Residential property price inflation slows to 5.3%. Further weakness expected

Residential property price inflation slows to 5.3%. Further weakness expected

The average house price rose 5.3 percent year-on-year in March, according to the FNB House Price Index.

Popular articles
[LISTEN] Van Breda's call to emergency services: 'My family and I were attacked'

[LISTEN] Van Breda's call to emergency services: 'My family and I were attacked'

The chilling call Henri van Breda made to emergency services on the night his mother, father and big brother were hacked to death.

[LISTEN] Dailene, the lady behind the video from Thursday's heist in Boksburg

[LISTEN] Dailene, the lady behind the video from Thursday's heist in Boksburg

Another heist was carried out in Boksburg on Thursday morning and led to five people being arrested.

CT's desalinated water may have long-term health risks, scientists warn

CT's desalinated water may have long-term health risks, scientists warn

Desalination is not a risk-free solution to the water crisis and could have health implications, local experts have argued.

Hope Ramaphosa: Cyril never lifted a finger to me, he wouldn't beat a woman

Hope Ramaphosa: Cyril never lifted a finger to me, he wouldn't beat a woman

Cyril Ramaphosa's ex-wife says abuse allegations spread by EFF leader Julius Malema are an attempt to tarnish his reputation.

How businessman Max Lichaba struck gold with his jewellery company

How businessman Max Lichaba struck gold with his jewellery company

Entrepreneur Max Lichaba built his own empire and is the CEO of Lichaba Creations and several other businesses. This is his story.

Is Shakespeare still relevant to SA's school curriculum?

Is Shakespeare still relevant to SA's school curriculum?

How relevant is Shakespeare in SA's English literature which is written in a manner that no one speaks today?

3 reasons for the petrol price hike (and why it will hurt more than you think)

3 reasons for the petrol price hike (and why it will hurt more than you think)

Economist Dawie Roodt says that the petrol price hike is going to boost the cycle of inflation and force interest rates up.