The downward trend in house price growth has continued in November, with growth falling to 12,7 percent year-on-year, according to the latest Absa house price index. This is from 13,3 percent in October.
"Nominal house price growth has been in a downward phase for the past two years after peaking at 35,4 percent in October 2004," said Absa researchers.
This brings the average price of a house in the middle of the market to R841000 this month. - I-Net Bridge