The paid-for service will cost R29 for each analysis undertaken.
Christo Wiid, GM of property24, says the sale prices of properties in Gauteng and the Western Cape for the past eight years have been incorporated into the index. Other areas will be added later.
"Property buyers, sellers and estate agents will able to examine the comparative home price information by suburb, street or sectional title complex. The program gives them three six-month reports going back to July 2002 so they can examine the change in price within the market as well as stats showing how many houses have been sold in each price bracket," he says.
The product, which was developed in conjunction with location-based services company Afrigis, also provides users with an interactive map which provides the schools, hospitals, shops and other landmarks in the area, as well as the distance from a specific point to any of these locations, Wiid says.
The index accesses information from various sources such as the surveyor general, municipal records and deeds office records to compile its reports. Wiid says users can purchase the service via a secure online shop.
"It will also link the suburb the user is searching for to the surrounding suburbs with reports on all transfers, freehold and sectional titles that have taken place in these areas within a specified time period. Users will therefore be able to compare the prices of the suburb they are looking at with those around them," he says.
While properties that are currently on the market are not incorporated in the service, Wiid says this feature will be incorporated into later editions of the service.
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