house prices fall

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.

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

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