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Residential market could be halfway through its slump

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The luxury housing market is suffering the most, estate agents say

The residential property market is probably halfway through its recovery and will be in the doldrums for another three years as the country’s economic slump bites, SA’s largest estate agencies says.

Increases in house prices have lagged behind inflation in the past two years, averaging about 3.6%, a report by Lightstone Property showed on Monday. SA’s inflation rate, which slowed to 4% in July, averaged 4.7% and 4.5% in 2017 and 2018.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

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