The market has been ranging in the 2% to 5% zone for some time following a slowdown in recent months, but the Western Cape still continues to outperform the rest of the provinces with an annual rate of 5.0 %.
This is despite a drop of about three percentage points in the past 12 months. “Our inland municipalities Ekurhuleni, City of Tshwane and City of Johannesburg metros are growing stably at rates between 1% and 4%, whereas the coastal municipalities are generally performing above this range,” the report states.
It adds that the low- and mid-value wealth segments continue to buck the trend by growing at more than 4% annually, while the rest are inflating at rates below that.