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...

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