FNB house price index up 7.8% in October

Posted On Wednesday, 06 November 2013 17:41 Published by eProp Commercial Property News
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FNB house price index accelerates to 7.8% in October‚ from September’s revised rate of 7%.

John Loos

The FNB house price index accelerated to 7.8% year on year (y/y) in October‚ from September’s revised rate of 7%.

This is the fourth consecutive month of acceleration since the 5.84% rate recorded in June.

The average value of homes transacted in the FNB house price index was R911‚424.

In real terms - adjusting house prices for the consumer price index - house price growth was 0.99% in September.

“Evaluating longer-term performance - compared with October 2003 - the index is up 33% in real terms and 135.4% in nominal terms‚ still suggesting that the full price effects of last decade’s residential demand boom haven’t yet worn off‚” FNB household and property sector strategist John Loos said. 

Last modified on Friday, 14 March 2014 08:58

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