South African property is hot. The country joined The Economist’s quarterly global index of residential property prices in September 2004 and only three months later it topped the table.

House price growth in this new democracy of 44m people has slowed from the 35.1 per cent gain it showed in late 2004, but a growing black middle class, boosted by economic liberalisation, affirmative action employment policies and an active redistribution of wealth is driving growth as never before.