The September oobarometer has shown a 1,8% rise in house prices year-on-year, ooba (formerly MortgageSA) said on Monday.

House prices fell 4,9% in July, according to the Standard Bank’s residential property gauge released on Monday.

While the FNB House Price Index’s decline continued in July, there was some hint that the rate of decline may be starting to diminish, the bank said.

House prices remained on a downward trend for June, Absa said on Monday. Prices dropped further in nominal terms in June by 4,4% year-on-year.