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
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
Questions raised over line of questioning at Omotoso trial

Questions raised over line of questioning at Omotoso trial

James Grant says he thinks that it may be time to re-look how the law works in terms of dealing with rape victims.

'The EFF seems to be trying to find scapegoats'

'The EFF seems to be trying to find scapegoats'

Deputy Editor at Financial Mail, Sikhonathi Mantshantsha, seems to be finding excuses as to why its leaders are in trouble.

The sun sets on Zimbabwe’s new dawn as inflation hits 155%

The sun sets on Zimbabwe’s new dawn as inflation hits 155%

Here we go again… The Money Show’s Bruce Whitfield interviews Africa Connected Host Lee Kasumba.

'Clicks false-positive pregnancy tests causes a lot of heartbreak'

'Clicks false-positive pregnancy tests causes a lot of heartbreak'

Some of the women who used these tests shared their heartbreaking stories with Business Insider Online.

Tax payers could go back to filing returns manually if Sars system not fixed

Tax payers could go back to filing returns manually if Sars system not fixed

Marc Sevitz of Tax Tim says it is scary to think the system might collapse and taxpayers will have to file manually.

VBS gave Zuma R8.5m before any security was provided for loan - News 24 journo

VBS gave Zuma R8.5m before any security was provided for loan - News 24 journo

News 24 investigative journalist Kyle Cowan reports that Zuma was granted the loan despite the fact that he could not afford it.

Let your nose decide if docci claims into perfume industry are true

Let your nose decide if docci claims into perfume industry are true

Claims have been made that the perfume industry don't want consumers to know the real cost of making these products.

Woman alleges pastor Omotoso began sexually abusing her at 14

Woman alleges pastor Omotoso began sexually abusing her at 14

Nigerian pastor Timothy Omotoso and his two co-accused face multiple charges, including human trafficking, racketeering and rape.