Residential house price growth, which hit more than 30% year-on-year in 2004, should continue moderating as higher interest rates dampen consumer demand, a survey showed on Thursday.
The Standard Bank monthly property gauge indicated house price growth rose to 8.4% year-on-year in February from 6.9% in January.
But the rise was largely attributed to the low base of the same month last year, with no month-on-month growth in prices, after price growth slowed steadily in 2005 and 2006.
The median house price remained at R570 000, the survey showed.
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