slow growth

House prices in the middle segment of the market slowed to a nominal 8,7percent in February from a revised 9,9percent in January, the Absa House Price Index showed yesterday.

House prices in the middle segment of the market slowed to a nominal 8,7percent in February from a revised 9,9percent in January, the Absa House Price Index showed yesterday.

House price growth has not been so low since 1999, when it was 9,3percent.

The average price of a house was about R969800 last month, compared with R962 000 in January. Nominal price growth of 10.6 percent year-on-year was recorded in December last year. - I-Net Bridge

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