South African House Prices Increase by 1.8% in November, Absa Report Says

The average price of a medium-sized South African house rose by 1.8 percent to 951,000 rand in November, Absa Group Ltd., the country’s largest mortgage provider, said.

House prices will increase by about 5 percent in 2011, the Johannesburg-based lender said in an e-mailed report today.

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