FNB house price index improves

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FNB says its house price index showed a further slight acceleration in March.

The Bank's property sector strategist, John Loos, says the index improved from a revised February growth rate of 7.1% to
8 % year-on-year.

He says this was the highest year-on-year growth since June 2010.

Loos says furthermore, the current abnormally low interest rates mask a lot of the underlying household financial frailties that still exist.