20/09/04 One of the expensive houses in Malboro Gardens were residens are object The housing market continues to benefit from supply-side constraints that are helping to cushion prices.
The moderation in price growth reflects a more challenging operating environment for households.
Market activity is likely to be restrained through the remainder of the year.
Higher borrowing costs, weaker consumer confidence and softer economic conditions are weighing on housing demand and are likely to restrain market activity through the remainder of the year, says Siphamandla Mkhwanazi, the FNB senior economist.
This is as the FNB House Price Index (HPI) slowed further in June, with annual house price growth easing to 5.2% year-on-year (y/y) from 5.7% y/y in May.
