Property Newsletter | February 2024
HPI forecast and the roads more travelled
Lightstone’s much anticipated House Price Inflation (HPI) forecast for 2024 is here! Paul-Roux De Kock, Lightstone’s Chief Analytics Officer explains the company’s low, mid and high forecast for 2024. Lightstone analyses anonymised, aggregated and upweighted telemetry data to track and understand vehicle movement trends. In this issue Lightstone looks at motor vehicle travel to see what it tells us about holiday travel this past December. And finally, our House Price Index for January is included.
2024 House Price Inflation forecast
House Price Inflation (HPI) in South Africa’s residential property market in 2024 should average out at between a low of 1.8% and a high of 3.5%. Lightstone expects luxury homes to fare best in terms of HPI.
The roads more travelled
What could an analysis of vehicle movements to South Africa’s three big airports and service station stops across the country tell us about travel during our busy holiday season?
The latest House Price Index
National year-on-year house price inflation currently stands at 2.41%, a slight decrease from December 2023. Annual property inflation for properties in the Low and High Value segments remained unchanged at 7.3% and 1.8% respectively, the Mid Value segment decreased to 2.4% and the Luxury segment is at 3.2%.
Happy reading!
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