FNB House Price Index trends lower in February

May 2018 saw the FNB House Price Index growing by a faster 4.6%, year-on-year, up from the previous month’s 3.8% in April, and from a February 2018 low of 2.8%.

In January 2018, the FNB House Price Index showed a slowing in year-on-year growth compared with the revised December 2017 rate.

In January 2018, the FNB House Price Index showed a slowing in year-on-year growth compared with the revised December 2017 rate. This comes after some prior months of accelerating year-on-year growth.

According to StatsSA CPI (Consumer Price Index) figures, residential rental inflation has been outstripping average house price inflation of late.

While the residential property market looks to be struggling around most of the country, it would seem that Pretoria East is one of the few exceptions.

In April 2017, the FNB House Price Index showed some further acceleration in year-on-year growth compared with the March rate, after having gone through a “dip” late in 2016.

The FNB House Price Index for 2016 as a whole rose by 5%, slower than the 7.2% and 6.5% for 2014 and 2015 respectively.

The residential property market has had its ups and downs during 2016 as the economy stagnates, the Reserve Bank started hiking interest rates again and consumers struggle with household debt-to-income.

Gross Domestic Product for the 2nd Quarter of 2016 showed some mild improvement, returning to positive growth after a 1st Quarter contraction.

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