Lightstone’s latest Residential Property Indices shows Gauteng is struggling to maintain value.
Gauteng’s property market is seeing incredibly weak property price inflation, with the picture especially bleak in Johannesburg.
“We are seeing the Provinces of Gauteng, KwaZulu-Natal and Eastern Cape, and to a lesser degree, the Northern Cape being the provinces that have shown a slowdown in property inflation,” Lightstone’s Hayley Ivins-Downes said. Looking at the data, Gauteng’s property price inflation was the lowest of all provinces at 1.18%, despite being the economic hub of the country.
“There are many reasons around this, essentially driven through many economic factors,” Ivins-Downes said.
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