Standard Bank house price index up 6.9% in September

Standard Bank house price index records a modest moderation in September‚ rising by 6.9% from a revised 7.6% in August.

The Standard Bank house price index recorded a modest moderation in September‚ rising by 6.9% year on year (y/y)‚ from a revised 7.6% y/y in August.

In September‚ the nominal index monitoring sectional title units matched the August improvement of 4.2% y/y. The nominal index monitoring freehold properties saw y/y momentum ease to 8.7% y/y in September from 9.5% y/y in August.

In spite of the softness in September‚ the house price index remains range-bound between 7% and 8% y/y.