{"id":292334,"date":"2020-06-10T12:11:50","date_gmt":"2020-06-10T10:11:50","guid":{"rendered":"https:\/\/informante.web.na\/?p=292334"},"modified":"2020-06-10T15:53:00","modified_gmt":"2020-06-10T13:53:00","slug":"house-prices-tumble","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=292334","title":{"rendered":"First quarter house prices tumble further"},"content":{"rendered":"\n<p>Business Reporter<\/p>\n<p>THE FNB House Price Index posted a contraction of 5.9% y\/y at the end of March 2020, compared to a contraction of 1.5% recorded over the same period of 2019.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThis brought the average national house price to a 5-year record low of N$1 038 577 as at March 2020,\u201d said Frans Uusiku, FNB Market Researcher.<\/p>\n<p>\u00a0<\/p>\n<p>Although overall house prices in the central and coastal regions have remained buoyant, registering growths of 8.2% y\/y and 7.2% y\/y over the first quarter, respectively, this was overshadowed by steep contractions of 18.7% y\/y and 13.6% y\/y recorded in the northern and southern regions, respectively.<\/p>\n<p>\u00a0<\/p>\n<p>House price contractions in the northern and southern regions were observed in the small housing segment, while the small and medium housing segments were responsible for price growth in the central and coastal regions.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"926\" src=\"https:\/\/informante.web.na\/wp-content\/uploads\/2020\/06\/House-prices-tumble.jpg\" alt=\"FNB House Price Index March 2020 contraction\" class=\"wp-image-292336\" srcset=\"https:\/\/informante.web.na\/wp-content\/uploads\/2020\/06\/House-prices-tumble.jpg 243w, https:\/\/informante.web.na\/wp-content\/uploads\/2020\/06\/House-prices-tumble.jpg 750w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><figcaption>ON THE DECLINE: Frans Uusiku, FNB Market Researcher. Photo: Contributed<\/figcaption><\/figure><\/div>\n\n\n\n<p>\u00a0<\/p>\n<p>\u201cWhile we continue to view affordability of houses in the large and luxury segments as a stumbling issue, we see deferment in buying decisions in anticipation of a further drop in prices and an improvement in the delivery of land as some of the themes shaping the outlook for the residential property market,\u201d continued Uusiku.<\/p>\n<p>\u00a0<\/p>\n<p>The overall volume index also rebounded significantly by 2.0% y\/y from -24.4% y\/y in the prior quarter. This, however, remains much lower than the 37.9% y\/y growth recorded over the same period of 2019.<\/p>\n<p>\u00a0<\/p>\n<p>We view the increasing concentration of transaction volumes in the small and medium segments and the emerging inverse relationship between overall price and volume growth as indicative of properties selling at prices below, Uusiku stated.<\/p>\n<p>\u00a0<\/p>\n<p>He added that the flurry of trading activity in the small and medium housing segments is becoming a new normal in the Namibian residential property market.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThis could be ascribed to affordability issues and inherent high levels of income inequality that are compounded by a smaller population. Henceforth, whether property investment is still regarded as Safe Haven in the context of current economic conditions is becoming a recurring theme,\u201d Uusiku explained.<\/p>\n<p>\u00a0<\/p>\n<p>He added that the outlook for property prices looks bleak from a market perspective, as widespread job losses and income uncertainty induced by COVID-19 do not bode well for demand.<\/p>\n<p>\u00a0<\/p>\n\n\n\n<div class=\"alignnormal\"><!-- MetaSlider 271797 not found --><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":10,"featured_media":292335,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-292334","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>House prices tumble - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"THE FNB House Price Index posted a contraction of 5.9% y\/y at the end of March 2020, compared to a contraction of 1.5% recorded over the same period...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/informante.web.na\/?p=292334\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House prices tumble - Informant\u00e9\" \/>\n<meta property=\"og:description\" content=\"THE FNB House Price Index posted a contraction of 5.9% y\/y at the end of March 2020, compared to a contraction of 1.5% recorded over the same period...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/informante.web.na\/?p=292334\" \/>\n<meta property=\"og:site_name\" content=\"Informant\u00e9\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/informantenam\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-10T10:11:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-10T13:53:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i2.wp.com\/informante.web.na\/wp-content\/uploads\/2020\/06\/House-prices-tumble-feature.jpg?fit=660%2C408&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"660\" \/>\n\t<meta property=\"og:image:height\" content=\"408\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Staff Reporter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@informantenews\" \/>\n<meta name=\"twitter:site\" content=\"@informantenews\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=292334#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=292334\"},\"author\":{\"name\":\"Staff Reporter\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/#\\\/schema\\\/person\\\/6ab65e7153fe62b690517153b8913a80\"},\"headline\":\"First quarter house prices tumble further\",\"datePublished\":\"2020-06-10T10:11:50+00:00\",\"dateModified\":\"2020-06-10T13:53:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=292334\"},\"wordCount\":376,\"publisher\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=292334#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/informante.web.na\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/House-prices-tumble-feature.jpg\",\"articleSection\":[\"Business\",\"News\"],\"inLanguage\":\"en-ZA\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=292334\",\"url\":\"https:\\\/\\\/informante.web.na\\\/?p=292334\",\"name\":\"House prices tumble - Informant\u00e9\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=292334#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=292334#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/informante.web.na\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/House-prices-tumble-feature.jpg\",\"datePublished\":\"2020-06-10T10:11:50+00:00\",\"dateModified\":\"2020-06-10T13:53:00+00:00\",\"description\":\"THE FNB House Price Index posted a contraction of 5.9% y\\\/y at the end of March 2020, compared to a contraction of 1.5% recorded over the same period...\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=292334#breadcrumb\"},\"inLanguage\":\"en-ZA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/informante.web.na\\\/?p=292334\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-ZA\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=292334#primaryimage\",\"url\":\"https:\\\/\\\/informante.web.na\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/House-prices-tumble-feature.jpg\",\"contentUrl\":\"https:\\\/\\\/informante.web.na\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/House-prices-tumble-feature.jpg\",\"width\":660,\"height\":408,\"caption\":\"FNB House Price Index March 2020 contraction\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=292334#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/informante.web.na\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"First quarter house prices tumble further\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/#website\",\"url\":\"https:\\\/\\\/informante.web.na\\\/\",\"name\":\"Informant\u00e9\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/informante.web.na\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-ZA\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/#organization\",\"name\":\"Informante\",\"url\":\"https:\\\/\\\/informante.web.na\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-ZA\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/informante.web.na\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/Informante-Logo-box-1.png\",\"contentUrl\":\"https:\\\/\\\/informante.web.na\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/Informante-Logo-box-1.png\",\"width\":655,\"height\":656,\"caption\":\"Informante\"},\"image\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/informantenam\",\"https:\\\/\\\/x.com\\\/informantenews\",\"https:\\\/\\\/www.instagram.com\\\/informante_news\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UC-cBl9A2bCMZZphxM2pyMkw\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/#\\\/schema\\\/person\\\/6ab65e7153fe62b690517153b8913a80\",\"name\":\"Staff Reporter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-ZA\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6a3f99fe38bd6004877c284045a2c7874eaab29eb08429df5cabc23908fc45aa?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6a3f99fe38bd6004877c284045a2c7874eaab29eb08429df5cabc23908fc45aa?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6a3f99fe38bd6004877c284045a2c7874eaab29eb08429df5cabc23908fc45aa?s=96&d=mm&r=g\",\"caption\":\"Staff Reporter\"},\"url\":\"https:\\\/\\\/informante.web.na\\\/?author=10\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"House prices tumble - Informant\u00e9","description":"THE FNB House Price Index posted a contraction of 5.9% y\/y at the end of March 2020, compared to a contraction of 1.5% recorded over the same period...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/informante.web.na\/?p=292334","og_locale":"en_US","og_type":"article","og_title":"House prices tumble - Informant\u00e9","og_description":"THE FNB House Price Index posted a contraction of 5.9% y\/y at the end of March 2020, compared to a contraction of 1.5% recorded over the same period...","og_url":"https:\/\/informante.web.na\/?p=292334","og_site_name":"Informant\u00e9","article_publisher":"https:\/\/www.facebook.com\/informantenam","article_published_time":"2020-06-10T10:11:50+00:00","article_modified_time":"2020-06-10T13:53:00+00:00","og_image":[{"width":660,"height":408,"url":"https:\/\/i2.wp.com\/informante.web.na\/wp-content\/uploads\/2020\/06\/House-prices-tumble-feature.jpg?fit=660%2C408&ssl=1","type":"image\/jpeg"}],"author":"Staff Reporter","twitter_card":"summary_large_image","twitter_creator":"@informantenews","twitter_site":"@informantenews","twitter_misc":{"Written by":"Staff Reporter","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/informante.web.na\/?p=292334#article","isPartOf":{"@id":"https:\/\/informante.web.na\/?p=292334"},"author":{"name":"Staff Reporter","@id":"https:\/\/informante.web.na\/#\/schema\/person\/6ab65e7153fe62b690517153b8913a80"},"headline":"First quarter house prices tumble further","datePublished":"2020-06-10T10:11:50+00:00","dateModified":"2020-06-10T13:53:00+00:00","mainEntityOfPage":{"@id":"https:\/\/informante.web.na\/?p=292334"},"wordCount":376,"publisher":{"@id":"https:\/\/informante.web.na\/#organization"},"image":{"@id":"https:\/\/informante.web.na\/?p=292334#primaryimage"},"thumbnailUrl":"https:\/\/informante.web.na\/wp-content\/uploads\/2020\/06\/House-prices-tumble-feature.jpg","articleSection":["Business","News"],"inLanguage":"en-ZA"},{"@type":"WebPage","@id":"https:\/\/informante.web.na\/?p=292334","url":"https:\/\/informante.web.na\/?p=292334","name":"House prices tumble - Informant\u00e9","isPartOf":{"@id":"https:\/\/informante.web.na\/#website"},"primaryImageOfPage":{"@id":"https:\/\/informante.web.na\/?p=292334#primaryimage"},"image":{"@id":"https:\/\/informante.web.na\/?p=292334#primaryimage"},"thumbnailUrl":"https:\/\/informante.web.na\/wp-content\/uploads\/2020\/06\/House-prices-tumble-feature.jpg","datePublished":"2020-06-10T10:11:50+00:00","dateModified":"2020-06-10T13:53:00+00:00","description":"THE FNB House Price Index posted a contraction of 5.9% y\/y at the end of March 2020, compared to a contraction of 1.5% recorded over the same period...","breadcrumb":{"@id":"https:\/\/informante.web.na\/?p=292334#breadcrumb"},"inLanguage":"en-ZA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/informante.web.na\/?p=292334"]}]},{"@type":"ImageObject","inLanguage":"en-ZA","@id":"https:\/\/informante.web.na\/?p=292334#primaryimage","url":"https:\/\/informante.web.na\/wp-content\/uploads\/2020\/06\/House-prices-tumble-feature.jpg","contentUrl":"https:\/\/informante.web.na\/wp-content\/uploads\/2020\/06\/House-prices-tumble-feature.jpg","width":660,"height":408,"caption":"FNB House Price Index March 2020 contraction"},{"@type":"BreadcrumbList","@id":"https:\/\/informante.web.na\/?p=292334#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/informante.web.na\/"},{"@type":"ListItem","position":2,"name":"First quarter house prices tumble further"}]},{"@type":"WebSite","@id":"https:\/\/informante.web.na\/#website","url":"https:\/\/informante.web.na\/","name":"Informant\u00e9","description":"","publisher":{"@id":"https:\/\/informante.web.na\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/informante.web.na\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-ZA"},{"@type":"Organization","@id":"https:\/\/informante.web.na\/#organization","name":"Informante","url":"https:\/\/informante.web.na\/","logo":{"@type":"ImageObject","inLanguage":"en-ZA","@id":"https:\/\/informante.web.na\/#\/schema\/logo\/image\/","url":"https:\/\/informante.web.na\/wp-content\/uploads\/2019\/10\/Informante-Logo-box-1.png","contentUrl":"https:\/\/informante.web.na\/wp-content\/uploads\/2019\/10\/Informante-Logo-box-1.png","width":655,"height":656,"caption":"Informante"},"image":{"@id":"https:\/\/informante.web.na\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/informantenam","https:\/\/x.com\/informantenews","https:\/\/www.instagram.com\/informante_news","https:\/\/www.youtube.com\/channel\/UC-cBl9A2bCMZZphxM2pyMkw"]},{"@type":"Person","@id":"https:\/\/informante.web.na\/#\/schema\/person\/6ab65e7153fe62b690517153b8913a80","name":"Staff Reporter","image":{"@type":"ImageObject","inLanguage":"en-ZA","@id":"https:\/\/secure.gravatar.com\/avatar\/6a3f99fe38bd6004877c284045a2c7874eaab29eb08429df5cabc23908fc45aa?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6a3f99fe38bd6004877c284045a2c7874eaab29eb08429df5cabc23908fc45aa?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6a3f99fe38bd6004877c284045a2c7874eaab29eb08429df5cabc23908fc45aa?s=96&d=mm&r=g","caption":"Staff Reporter"},"url":"https:\/\/informante.web.na\/?author=10"}]}},"_links":{"self":[{"href":"https:\/\/informante.web.na\/index.php?rest_route=\/wp\/v2\/posts\/292334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/informante.web.na\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/informante.web.na\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/informante.web.na\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/informante.web.na\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=292334"}],"version-history":[{"count":0,"href":"https:\/\/informante.web.na\/index.php?rest_route=\/wp\/v2\/posts\/292334\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/informante.web.na\/index.php?rest_route=\/wp\/v2\/media\/292335"}],"wp:attachment":[{"href":"https:\/\/informante.web.na\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=292334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/informante.web.na\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=292334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/informante.web.na\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=292334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}