Yes, it's more expensive to rent – but increases are still below inflation

During the second quarter of 2022, rental prices increased year-on-year but are still not in line with inflation.

The latest rental index by property management company Payprop SA shows growth of 2.5%, 2.6% and 2.7% in April, May and June respectively. The quarterly year-on-year rental growth was 2.6%.

"Rental prices showed an upward trend since April 2021. Although very gradual, this remains encouraging. There was positive growth in all provinces despite tenants feeling the pinch due to challenging economic conditions," says Johette Smuts, head of data analytics at PayProp SA.