House prices now at N$1.2 million: FNB House Index

By Confidente Reporter

The FNB house index reveals a notable shift in the overall house price, which now stands at N$1.214.674 during the 2023 fourth quarter.

This figure is slightly lower than the N$1.218.086 recorded in the third quarter, indicating a potential market adjustment.

This is, however, higher than the N$1.196.569 recorded in the 2022 fourth quarter. The index says the average prices for the central, coastal, northern, and southern regions are N$1.550.000, N$1.398.000, N$864.000, and N$881.000, respectively.

The average growth was 1.5 per cent at the end of the 2023 fourth quarter, compared to 3.3 per cent at the end of the 2023 third quarter. According to the house price index released this week, FNB says the growth rates for the small, medium, large and luxury segments stood at 0.7 per cent, -1.4 per cent, 7.3 per cent and 24.9 per cent. The FNB index reveals a consistent trend in the volume of houses sold.

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