POTENTIAL OWNERS TARGETED
Standard Bank launches two house-price indices for buyers
Standard Bank’s home-services department has launched a provincial house-price index (PHPI) and regional house-price index (RHPI) as it aims to provide more data to potential home buyers. The bank said it held the largest market share of home loans in SA. The new indices would give potential home buyers insight into regional and provincial market trends. Andrew van der Hoven, Standard Bank home-loans head, said the indices would supplement the national house price index (HPI), but would "break new ground by providing rich data" on trends underlying residential property movements in different regions and measuring the median prices of properties sold. "The advantage of a median is that it is not unduly influenced by extreme values and outliers," Van der Hoven said. The PHPI would be released monthly and the RHPI quarterly while the national HPI would still be available monthly. "We need to analyse lots of data to develop the granular insights needed for the regional index while there...
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