Residential property prices on the rise

JOHANNESBURG - Stats SA have released their Residential Property Price Index Report for April.

Annual national residential property price inflation was 3.9 percent in April 2024, an increase from 3.5 percent the previous month.

The RPPI also increased by 0.4 percent month-on-month, with the Western Cape and specifically the Cape Town metro being the main contributor.

The RPPI for properties sold for the first time increased by 2.7 percent between April 2023 and April 2024 while resold properties increased by 2.2 percent in the same period.

Sectional title and freehold properties increased by 1.8 percent and 2.3 percent respectively.