FNB: House prices lose momentum
Johannesburg – Although house prices continued to rise in June, the increase was losing momentum, FNB said on Monday.
The FNB house price index showed further acceleration in June, reaching 8.9% year-on-year growth in June, compared to year-on-year growth of 8.6% in May.
“This is the highest year-on-year growth since June 2010,” FNB said in a statement.
The recent mild resurgence in house price growth came largely as a result of a late-2011 strengthening in the domestic economy after two weak winter quarters last year.