The South African All Property Index (J803) continued its strong 2024 run in September, rising by 5.16% for the month, taking the index’s 2024 Total Return to 29.73%. The third quarter saw a 19.14% total return, and all three months delivered positive returns. On a rolling one-year basis, the J803’s Total Return has been very robust at 46.98%. The sector shrugged off concerns that it may start to run out of steam, and as several companies posted better than expected annual results and pre-close updates during the month, investors found the bullish sectoral thesis holding. A small 25 bps rate cut by the SA Reserve Bank further buttressed the listed real estate sector.
