House prices still on downward curve

House prices in Namibia again contracted in March, the third consecutive month it registered negative growth.
According to the latest FNB Housing Index, released this morning, the average house price in the country in March was 8.8% less than in March 2017.
“Given the likelihood of more affordable housing stock entering the market and the delayed reaction to the economic downturn, we expect property prices to retreat even further and remain under pressure for longer - allowing the market to correct after decades of exuberant house price inflation,” says Josephat Nambashu, analyst at FNB Namibia.