Cape Town has highest property price index - Stats SA
Statistics SA released the latest property price index stats for the eight metropolitan municipalities and nine provinces on Thursday.
The stats revealed 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%.
“After remaining relatively flat in 2018 and 2019, prices surged further. The price index for the City of Johannesburg, on the other hand, recorded the slowest increase over this period, with residential property prices rising on average by 71%”, the statement read.
This as residential property prices increased by 7,3% in 2021 compared with 2020.
Previously, residential property inflation hit a high of 8,0% in 2014 and slid to a low of 2,4% in 2019.
“Nationally, residential property prices increased by 5,8% in the 12 months to November 2022, according to the latest RPPI statistical release. Prices increased by 7,4% in Western Cape and by 3,6% in Gauteng over this period.”
The City of Cape Town and Ekurhuleni were the main contributors to the annual inflation rate for all metropolitan areas in November.
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