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House price inflation slows - index

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Cape Town - The FNB House Price Index for July 2016 rose by 7.1% year-on-year.

"This is slightly slower than the revised 7.2% rate recorded for June, which may be the start of a turning point in house price inflation after some mild acceleration in prior months," said FNB household and property sector strategist John Loos.

He added that in real terms, when adjusting for Consumer Price Index (CPI) inflation, the rate of house price growth remains mildly positive, having recorded 0.9% in June, the result of a combination of 7.2% average house price inflation and 6.3% CPI inflation.

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