{"id":701961,"date":"2023-07-06T16:11:22","date_gmt":"2023-07-06T14:11:22","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=701961"},"modified":"2023-07-06T16:11:22","modified_gmt":"2023-07-06T14:11:22","slug":"properties-in-these-provinces-are-outpacing-all-the-rest","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/701961\/properties-in-these-provinces-are-outpacing-all-the-rest\/","title":{"rendered":"Properties in these provinces are outpacing all the rest"},"content":{"rendered":"\n<p>Property inflation in certain provinces has outpaced others, according to recent data from property analytics group Lightstone.<\/p>\n\n\n\n<p>The company&#8217;s latest residential property indices reported that annual property inflation is currently at 3.77%, a slight increase from last month. <\/p>\n\n\n\n<p>Monthly national property inflation is 0.42%.<\/p>\n\n\n\n<p>Lightstone said annual property inflation remained steady in the Free State, increased in KwaZulu-Natal, Limpopo, Mpumalanga and the Western Cape, and decreased in the Eastern Cape, Gauteng, North West and the Northern Cape.<\/p>\n\n\n\n<p>Regarding valuation segments, Lightstone said that the Low-Value segment was once again much higher than in other segments.<\/p>\n\n\n\n<p>Inflation in the Low-Value segment was 8.5% compared to 4.3% for properties in mid-value segments.<\/p>\n\n\n\n<p>High-value property owners are facing an increased inflation rate of 3.7%. The luxury segment recorded the lowest metric at 3.0%.<\/p>\n\n\n\n<p>The company&#8217;s segments were based on the following property values:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Luxury:<\/strong>&nbsp;More than R1.5 million<\/li>\n\n\n\n<li><strong>High Value:<\/strong>&nbsp;Between R700,0000 to R1.5 million<\/li>\n\n\n\n<li><strong>Mid Value:<\/strong>&nbsp;Between R250,000 to R700,000<\/li>\n\n\n\n<li><strong>Low Value:<\/strong>&nbsp;Less than R250,000<\/li>\n<\/ul>\n\n\n\n<p>Low-value properties have experienced the highest inflation rate since 2019, peaking at 12.5% in 2021.<\/p>\n\n\n\n<p>When analyzing and reporting property data, Lightstone uses repeat sales indices. Lightstone said this method is unlike &#8220;average house price&#8221; indices, repeat sales indices offer a more accurate measure of the real price inflation for houses that have been sold multiple times within a specific timeframe. <\/p>\n\n\n\n<p>This approach provides a clearer understanding of how property prices have changed over time by focusing on individual transactions rather than relying on average values.<\/p>\n\n\n\n<p>Below are a selection of graphs illustrating the change in property inflation across different value segments:<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/Luxury-inflation-propeorty-rate.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"941\" height=\"202\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/Luxury-inflation-propeorty-rate.jpg\" alt=\"\" class=\"wp-image-701985\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/Luxury-inflation-propeorty-rate.jpg 941w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/Luxury-inflation-propeorty-rate-300x64.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/Luxury-inflation-propeorty-rate-768x165.jpg 768w\" sizes=\"auto, (max-width: 941px) 100vw, 941px\" \/><\/a><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/high-mid-low-value-segment-inflation.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"537\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/high-mid-low-value-segment-inflation.jpg\" alt=\"\" class=\"wp-image-701987\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/high-mid-low-value-segment-inflation.jpg 943w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/high-mid-low-value-segment-inflation-300x171.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/high-mid-low-value-segment-inflation-768x437.jpg 768w\" sizes=\"auto, (max-width: 943px) 100vw, 943px\" \/><\/a><\/figure>\n\n\n\n<p>Inflation also fluctuates across different provinces. Lightstone reported that Limpopo has the highest inflation status at 7.18%, followed by Mpumalanga at 7.15% and the Western Cape in third at 6.28%.<\/p>\n\n\n\n<p>The map below breakdown the current provincial property inflation status in South Africa:<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/provinces-lightstone-.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"739\" height=\"537\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/provinces-lightstone-.jpg\" alt=\"\" class=\"wp-image-701991\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/provinces-lightstone-.jpg 739w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/07\/provinces-lightstone--300x218.jpg 300w\" sizes=\"auto, (max-width: 739px) 100vw, 739px\" \/><\/a><\/figure>\n\n\n\n<p>When taking into account the difference in property inflation across municipalities. Lighstone reported that Nelson Mandela Bay saw the highest property inflation rate at 3.9%. The area&#8217;s property inflation peaked in the first half of 2022 at 6.9%.<\/p>\n\n\n\n<p>Provided below is a breakdown of municipal property inflation:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>City of Cape Town: 3.6%<\/li>\n\n\n\n<li>City of Johannesburg: 0.1%<\/li>\n\n\n\n<li>City of Tshwane: 2.7%<\/li>\n\n\n\n<li>Ekurhuleni: 1.9%<\/li>\n\n\n\n<li>Ethekwini: 3.3%<\/li>\n\n\n\n<li>Nelson Mandela Bay: 3.9%<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>Read: <a rel=\"noreferrer noopener\" href=\"https:\/\/businesstech.co.za\/news\/property\/697735\/the-return-on-a-house-if-you-bought-in-2010-cape-town-vs-johannesburg-vs-durban\/\" target=\"_blank\">The value of a 2010 property today \u2013 total return in Cape Town vs Johannesburg vs Durban<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Property inflation is fluctuating across provinces as various different rates with low-value segments feeling it more.<\/p>\n","protected":false},"author":10,"featured_media":701971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[26,7421],"class_list":["post-701961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-headline","tag-lightstone"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/701961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=701961"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/701961\/revisions"}],"predecessor-version":[{"id":702187,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/701961\/revisions\/702187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/701971"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=701961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=701961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=701961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}