Latest Lightstone Property news
Lightstone is well known in South Africa for providing insights into big data. The company was formed in 2005 to assist businesses involved in the property and automotive industries to make better decision using real, tangible information.
A few weeks ago we published an article on the CN&CO blog about Lightstone’s use of AI in property valuations.
Lightstone’s November 2023 property newsletter was recently distributed. It shares some fascinating and useful insights into the property market in South Africa, including an article on the use of data in AI to provide “superpowered” decision-making, an overview of the Free State residential property market, and the current national house price index.
Here are the blurbs and links to the articles mentioned above:
Superpower decision making
The purpose of building data sets and unlocking insights, in Lightstone’s world, is to enable our clients with “superpowered” decision making abilities when using our products to build a competitive advantage in their business.
Mid to lower prices dominate in Free State
There are 115 000 non-residential properties and 540 000 residential properties in the Free State. Of the residential properties, 25% are valued at more than R500k, 10% at more than R1m and just 1% are within Estates, and 7% within Sectional Titles.
House Price Index
National year-on-year house price inflation is at 3.17%. Its the lowest level in the last six months but up on the March 2023 level of 2.64%. Annual property inflation for properties in Low Value segment was at 8.6% in October compared to 5.1% for properties in the Mid Value segment. Inflation for properties in the High Value and Luxury segments were significantly lower at 1.9% and 2.4% respectively.
View or download the report
You can read this and previous Lightstone Property newsletters here. If you are more interested in the automotive side of things, here is the newsletter back catalogue.