Average house price: R1-million
HOUSES worth just above R1m have become the most attractive residential segment, according to FNB's home buying estate agent survey.
While the survey continued to point to the "affordable segment" performing the best this was now only by a slight margin.
FNB property strategist John Loos said: "After the relief rally that we saw in 2010 estimated house price growth in all of the four major metro area value band indices showed something of a tapering-off.
"However in recent quarters there were signs that certain segments were starting to turn upwards in terms of price growth, which partly ties in with the recent rise in price growth in the FNB national house price index whose data is more current.
The area value band that had appeared to "defy gravity" the best through 2011 was the so-called affordable segment, which included a group of lower-priced metro areas (including many of the so-called former black townships) with an average price of R385 199 in the first quarter of 2012.
"The affordable area value band saw estimated average price growth of 4.9% in the first quarter, mildly higher than the 4.7% in the previous quarter," he said. "However (the middle income areas are) starting to play catch-up to the affordable areas. With an average price of R1.139m this index has seen its price growth accelerate mildly from a low of 3.3% in the third quarter." He added that the growth difference between the segments was "marginal".