House prices in South Africa are declining again, after a gradual price rise in 2014.
The house price index for medium-sized houses rose by 3.9% y-o-y to November 2015, according to ABSA. However when adjusted for inflation, the average house price actually fell by 0.8% – a slowdown from the 9.2% (3.2% in real terms) y-o-y price increase during the same period last year.
Small-sized houses rose least, their prices up only 1.8% (-2.8% in real terms) y-o-y to November 2015. Large-sized houses, on the other hand, rose by 8.3% (3.4% in real terms) y-o-y.
In November 2015:
- the average price of small homes (80-140 sq. m.) was ZAR 877,000 (US$ 52,293)
- the average price of medium-sized homes (141-220 sq. m) was ZAR 1,241,000 (US$ 73,997)
- the average price of large homes (221-400 sq. m) was ZAR 1,989,000 (US$ 118,599)
“Nominal house price growth of 5%-6% is forecast for 2016, with the risk to the downside against the background of economic and consumer sector trends and prospects…real house price growth is expected to remain under severe pressure in the next 12-18 months,” says ABSA.
WHY FLAMING SILVER
Flaming silver took a look at what is currently being offered.
Yes there is a handful of companies providing this service but not to its full potential.
We saw a need. This need is young people and middle aged people looking to buy a new house but the system and economy makes it hard as less and less people are being approved for bonds.
So as a result they get married and put up a Wendy house.
We here to offer an easy and affordable vibracrete structure that looks like a brick home both inside and outside but much less and affordable.
With previous vibracrete structures we were able to set up a complete home with the following:
- A fully tiled house
- Kitchen Counter
- Plastered both inside and outside
- Fully Painted
- Running Water
All extra requirements will be charged extra
Please download the document below