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Residential Property Price Index Report For June 2023

Residential Property Price Index For June 2023

According to the Residential Property Price Index report for June 2023, house prices in South Africa have increased by 2.9% between June 2022 and June 2023. And in particular, property prices in the Western Cape have increased by 4.1% year-on-year.

On Thurs 9 Nov 2023, Statistics South Africa (Stats SA) released its monthly Residential Property Price Index report.

This is the ninth report of its kind since StatsSA published its first report in March 2023. Stats SA developed this property price index in partnership with the South African Reserve Bank (SARB) and with the support of the International Monetary Fund (IMF).

The RPPI aims to measure the changes in the price of new and existing residential properties purchased by households. Only market prices are considered which include the price of the land on which residential buildings are located.

And the primary source data used to estimate the RPPI comes from the Office of the Chief Registrar of Deeds (Deeds office). The Deed office is an administrative record of all property transactions in South Africa.

By comparison, Lightstone recorded similar results to the residential property price index report for June 2023. It reported the National year-on-year house price inflation to be at 3.88% by the end of June 2023. And the Western Cape year-on-year house price inflation at 6.62%.

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One response to “Residential Property Price Index Report For June 2023”

  1. moegamat raeez Avatar

    really in need i want to be first time owner......thanks from moegamat raeez safodien

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