The magazine’s global house price index shows that SA house prices rose by a cumulative 418% over the past 12 years (1997 to 2009). That far outstrips any of the other 20 housing markets tracked by the index. The next best performers were Australia, Britain and Spain with growth of 181%, 175% and 167% respectively over the same time.
It appears that SA is also one of only a few countries in the world where house prices are back to their 2008-peaks. The Economist notes that although house prices have already started to rise in seven out of the 20 countries tracked by its housing index, most of these markets are still below their 2008-peaks.
For the full story, visit Property24.com.
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