About The Hass Property Index
HassConsult is delighted to announce the quarterly publication of The Hass Property Index. This is an important tool that will provide investors, home owners, the financial industry and consumers with information about house price inflation- allowing them to make informed decisions in the housing market, in order to enjoy the best possible returns. We believe the index will also help us all to understand far better the Kenyan real estate market, the urban residential market -and by extension, some of the dynamics within the Kenyan economy.
In our experience, the best decisions are made with the clearest possible information. It is by working to flag within the market what is rising, and what falling, that we can do the most in ensuring funds are directed towards the properties that are currently most needed and most sought.
New Style Hass Composite & Lettings Indices
As of Quarter 3 2010, HassConsult replaces its earlier published indices by virtue of this time going back a full 10 years, from December 2000, to bring it fully in line with international property data standards. Further, it has been broken out into 4 categories for Sale and Let respectively, based on Asking Price:-
Houses, Bungalows, Cottages and Villas
Town Houses and Maisonettes
This new approach is in direct response from listening to the feedback from journalists and property experts alike. In the latest report the Number of Bedrooms has also been grouped to give a clearer breakdown of the differences in housing stock available in the market place.
The new style indices have been calculated (rolling monthly annual averages) from over 45,000 Kenyan property observations in the public domain, along with Hass’s internal records. Importantly, 4 cornerstone data sources going back month by month for the full 10 years have been identified, collated, analyzed and presented. Absolute matches on key fields (Location, Road, Development, No of Beds, Asking Price and Date) have been performed, in a semi automated process, to remove duplicate records within each month. Approximately 8,000 records were removed. Thus the results are based on 37,400 verified Kenyan nationwide property observations with the process, calculations and statistical advice validated by an experienced data analyst / statistician.
We have also created special reports with industry specialists to compare the Nairobi Stock Exchange and 91-day Treasury Bills. Other insights include results for Average Prices by suburb and rental yield. Future publications will endeavour to be topical and pertinent to the Kenya property sector.