Welcome to 9jaflaver


Celebrity News | Education | Fashion | Football Updates | Lifestyle | Funny Photos

Call Only:- +2348143945195 or +2348114624972

You Can Email Us:- [email protected]

« | »

Nigeria’s First House Price Index Unveiled

The country ’ s pioneer house price index has been unveiled by the Roland Igbinoba Real Foundation for Housing and Urban Development , Nigerian Mortgage Refinance Company , Lekki Gardens and BusinessDAY Media Limited. The Roland Igbinoba House Price Index is expected to be a tool that measures changes in single family home prices across designated markets in the country , as well as reflect areas where some values
are increasing or decreasing.

It is also expected to provide necessary information for individuals to make decisions of when to purchase a house , where and even what type of house to buy. The Founder , Roland Igbinoba Real Foundation for Housing and Urban Development , Mr. Roland
Igbinoba , said the house price index was a variant of the weighted average or median method . Igbinoba said , “ The approach adopted in calculating the RI Index is that of the Laspeyres Index . A Laspeyres house price index calculates the weighted average change in prices over a period for fixed types of houses drawn from some base period.

“ It compares the total cost of purchasing a specific type of house in the base period with the total cost of purchasing the same type in other periods. An index of these costs is then constructed , taking the quantity of each house listed for sale in the base period as weight .”

According to him , the index will help to reflect both the relative costs of production and the relative utilities to purchasers as it measures changes in single-family home prices across Lagos and Abuja for a start .

He added that the index reflected areas where home values were increasing or decreasing and could provide necessary information to make decision of when to purchase a house, where and even what type of house to buy as well as help developers to know and gauge market affordability in different locations across the cities where the index currently covered . Igbinoba said , “ For the RI Index , we adopted a stratification approach to deal with the issue of changes in the composition of houses sold every quarter. Houses are stratified into three , four and five bedrooms ; other types of house with more than five bedrooms or less than three bedrooms are not considered in this report .

“ Due to lack of data sources in the country, the prices of houses listed for sale every month are collected from different sources . The median price of house in each stratum every month is obtained. The average of the three median prices per quarter is also obtained . This average of median price is then used as the average price of houses in each stratum .”



Click Here To Comment On This Post


[Music] DJ Ecool Ft Davido – Ada

[Music] Olamide – Science Student

[Music] Yovi Ft Lil Kesh And Mayorkun – Amen (Remix)

[Music] Ayo Jay Ft Davido And Olamide – Correct G

[Music] Lil Kesh Ft Rankfiizy – Ghetto Boi

[Music] Tekno Ft Wizkid – Mama

[Music] Olamide – Enimimomi

[Music] CDQ Ft DJ Direct – Kosere

[Music] Mr Eazi – Pour Me Water

author image
About 9jaflaver owner (Mr Ejump)

Mr Ejump Is the owner/CEO of 9jaflaver, he's an economist, a loving, and friendly young man. CONNECT via:- FACEBOOK TWITTER

Posted by on April 24, 2017.

Categories: 9ja news

There is love in sharing

0 Responses

Don't Just Read A Post And Go, Comment Below To Make The Post Lively

Do You Have Something To Say? Comment In The Box Below

Your Name Below

NOTE:- After Dropping your comment, keep calm, it will take 10 Seconds before it appears.

« | »

Hottest Songs This Week


Hottest Videos This Week


9jaflaver Music Of The Week

DJ Ecool Ft Davido – Ada

9jaflaver music of the week


Also Check Out:-

Monvic October – Come Choko

Also check out


Copyright © 2017 9jaflaver
Powered By: 9jaflaver