Cape Town - Nominal year-on-year growth in the average value of middle-segment homes in the South African residential property market remained in single digits in January 2016, according to Jacques du Toit, property analyst at Absa Home Loans.
He pointed out on Friday that there was a recent gradual rising trend evident in price growth in two categories of housing analysed in the latest Absa house price indices.
"Despite challenging economic conditions that affect consumers, such as rising inflation and interest rates, the uptick in price growth in some segments of housing was largely the result of the base effect of slowing price growth a year ago," he explained.
In real terms - that is after adjustment for the effect of headline consumer price inflation - price growth remained low in the middle segment of the market.
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