Home building costs in South Africa

The cost of building a new house increased by 4.3 percent year-on-year (y/y) in Q2 2012, down from 4.8 percent in Q1 2012, according to a report.

The Absa Home Loans Housing Review Q3 2012 report reveals that the average nominal price of a new house increased by 4.5 percent y/y to about R1 534 600 in Q2 2012.

Absa Home Loans property analyst Jacques du Toit explains that in real terms the price of a new house dropped by 1.1 percent y/y in the quarter.


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SOURCE: Property24



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