House prices ‘soften’ in second quarter
Jo-Maré Duddy – According to the FNB Residential Property Report, released today, the house price index was down 2.7% from the second quarter of 2019 to the second quarter of 2020.
The national weighted average house price is now recorded at N$1 044 956.
“House price gains were notable in the coastal and northern regions, registering growth of 8% and 6% year on year respectively. Meanwhile, double digit contractions in house prices of 10.8% and 13.8% year on year were recorded in the central and southern regions due to affordability issues,” said the market research manager of FNB Namibia, Frans Uusiku.
The national weighted average house price is now recorded at N$1 044 956.
“House price gains were notable in the coastal and northern regions, registering growth of 8% and 6% year on year respectively. Meanwhile, double digit contractions in house prices of 10.8% and 13.8% year on year were recorded in the central and southern regions due to affordability issues,” said the market research manager of FNB Namibia, Frans Uusiku.
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