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S.Africa: Residential property prices up

Posted on 20 September 2011

Residential property prices showed moderate positive growth during August, according to the latest results released by bond originator ooba. The August oobarometer price index revealed that the average house price rose 0.6% year on year to R829,897 from R825,264 a year earlier.
Positive growth of 1% was recorded on a month-on-month basis in August from July. Growth in the average purchase price amongst first time buyers also showed a significant increase, with year-on-year growth of 9.2% to R619,139 in August from R566,845 a year earlier……………………………………….Full Article: Source


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