Pam Golding launches Property Index

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.

The Index also forecasts that that this trend will continue owing to growing confidence, demand from a growing middle class and accelerating urbanisation.