With a growth rate of more than 100% over a little more than a decade, Cape Town has the highest property price index in the country.
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This was revealed in the latest Residential Property Price Index Report, released by StatsSA on Thursday.
The report found that Cape Town’s residential property price index has grown by 141% since 2010.
Since August 2014, Cape Town’s price increases have been constantly higher than the other metros.
Johannesburg ranked the lowest at 71%.
‘Annual national residential property price inflation was 5,8% in November 2022, unchanged from October 2022,’ stated the report. ‘The residential property price index (RPPI) increased by 0,4% month-on-month in November 2022.’
‘The main contributors to the 5,8% annual national inflation rate were Western Cape and Gauteng.’
‘Western Cape increased by 7,4% year-on-year, and contributed 2,2 percentage points. Gauteng increased by 3,6% year-on-year, and contributed 1,6 percentage points. The RPPI for all metropolitan areas increased by 4,4% between November 2021 and November 2022. The main contributors to the 4,4% annual inflation rate for metropolitan areas were City of Cape Town and Ekurhuleni.’
‘City of Cape Town increased by 5,2% year-on-year, and contributed 1,5 percentage points. Ekurhuleni increased by 7% year-on-year, and contributed 0,9 of a percentage point.’
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