Although overall property price infaltion has not kept up with headline inflation, one province is seeing a major increase in prices.
Mpumalanga, often seen as simply a tourist hotspot, has recently seen the highest increase in property prices.
The Western Cape’s 5.7% year-on-year increase contributed 1.8 percentage points, whilst Gauteng’s 1.9% contributed 0.8 of a percentage point. Dyer said that these provinces are at the fore of the first-time homebuyer market due to their affordability, value for money, and alignment with the trend of young homeowners coming back to their hometowns to start families.
He said that Mbombela is attracting first-time homebuyers, especially in new developments like Matumi Valley, Green Valley Estate and Intaba Estate.
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