New statistics from the PayProp Rental Index show a surprise reversal in tenant arrears.
The average SA residential rent grew 4.6% year on year in Q3 2023, according to the new PayProp Rental Index – the highest recorded since 2017.
Rental growth hit the highest level since 2017, according to the latest PayProp Rental Index.
In this quarter’s PayProp Rental Index, we see an ongoing recovery and record-high rents despite rising inflation.
PayProp's Rental Index for Q2 2023 shows rental growth in all provinces, with national growth rising to 4.4% for the quarter.
Looking back on the second quarter's market performance, we see national and provincial rental growth holding up despite challenging economic conditions.
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