The Pam Golding Property group has launched what is being
called the country's first comprehensive residential property index.
The CEO of the Pam
Golding Property group, Andrew Golding, explained that the Pam Golding
Residential Property Index fills the need for unbiased but in-depth analysis of
national market information.
Rather than relying on
sales averages, the Index uses a "repeat sales" methodology charting
the price information of properties which have transacted at least twice within
a specified period of time. This is through incorporating residential property
transactions registered at the Deeds Office together with other data sources
across the country's property market.
The company explained the
first edition of the Index reveals "robust activity" in all price
segments and acceleration in sales growth among properties valued at ZAR 1 million
(USD 92,000) or less. Furthermore, whilst value growth in higher priced
properties of more than ZAR 3 million has slowed, these properties continue to
lead the market and have grown in value by approximately 15% year-on-year.
