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
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
The Money Show’s Bruce Whitfield interviewed Galileo Capital Personal Financial Advisor Warren Ingram.
The Money Show’s Bruce Whitfield speaks to a woman whose father lost Krugerrands worth almost R1 million.
The outlook for gold (and other precious metals), oil, coal and steel in 2017…
Ornico monitors and simplifies “big data” for 300 local advertisers, either directly or through their agencies.
The Money Show’s Bruce Whitfield interviews Ennik Estates Founder and Principal Ronald Ennik.
Freestanding or sectional title? CBD or suburb? Swimming pool or solar panels? The nature of residential property is changing.
Hooters SA has introduced the ‘Order an Angel Shot’ initiative for female customers who are feeling unsafe during a date.
Political Analyst Dr Sethulego Matebesi says it is concerning that the President is publicly and boldly endorsing his ex-wife.
South Africans enjoy watching pornography, so much so that they've made it onto the top 20 countries with highest hits on Pornhub.
Dr Chris Smith explains why some people are more desirable than others to mosquitoes.
M&G's Pauli Van Wyk speaks about Public Protector's preliminary report implicating Absa, Reserve Bank, Treasury and Presidency.
Spokesperson for the National Consumer Commission says they believe consumers are exposed to potential risks in these vehicles.
Governor Lesetja Kganyago says South Africa asked international companies to print banknotes as part of risk management.
Property economist at FNB, John Loos, says the drop in house prices is due to slow pace in economic growth.
Department of Water and Sanitation says recent rains have increased the Vaal Dam levels but more is still needed.
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.