South Africa’s house prices rising, amidst sluggish economic growth
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South Africa’s house prices are now rising again, after six lacklustre years.
The house price index for medium-sized houses rose by 8.8% during the year to November 2014, according to ABSA. However when adjusted for inflation, the average house price increased only 2.8%. Yet this was an improvement on the 3.2% y-o-y rise in house prices (-2% decline in real terms) during the same period last year.
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