Property Market Index Due To Be Launched In South Africa

By Fiona Moore, for 30 October, 2014

A real estate company in South Africa has launched what it says is the country's first comprehensive residential property index.

Andrew Golding, who is CEO of the Pam Golding Property group, said that the Pam Golding Residential Property Index "fills the need for an in-depth and unbiased analysis of national market information."

He explained that rather than relying on sales averages, the Index uses a "repeat sales" methodology which charts the price information of properties which have transacted at least twice within a specific period of time. The Index incorporates residential property transactions registered at the Deeds Office as well as other data sources across the country's property market.

The company said the first edition of the Index shows "robust activity" in all price segments and acceleration in sales growth among properties valued at ZAR1m (USD92,000) or less. Further, while value growth in higher priced properties of over ZAR3m has slowed, these properties continue to lead the market and have increased in value by about 15 percent year-on-year.

The Index also suggests that that the trend will continue due to increasing confidence, demand from a growing middle class, and accelerating urbanization.

Tags: South Africa | Expats | Investment | Property Investment | Invest | Africa | Investment |


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