House price growth moved lower in December, taking the annual average to 3.5% The FNB House Price Index's annual growth decreased in December, averaging 2.9% year-on-year from 3.2% in November (Figure 1). This brings the average house price growth for 2022 to 3.5%, a decrease from 4.2% in 2021. The slowing trend in price growth is due to weaker demand as a result of rising living costs and affordability concerns, particularly for lower income groups.
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