# **6. Appendix**

**<u>Table A.1:</u>** Statistical Comparison of Lower Income, Middle Income, and Upper Income Housing Markets and Finance Policy

|||Mean|Std. dev.|Benchmark|Comment|
|---|---|---|---|---|---|
|Housing<br>finance<br>policy|Low|15.77|8.25||Performance|
|(mortgage rate)|Lower middle<br>Upper middle|16.12<br>12.94|4.99<br>1.74|Low|order is: UM, L,<br>LM.|
|Housing<br>finance<br>depth|Low|0.23|0.63||Performance|
|(mortgage debt to GDP / credit to<br>GDP)|Lower middle<br>Upper middle|0.37<br>13.29|0.65<br>14.69|High|order is: UM, LM,<br>L.|
|Housing finance penetration|Low|2.11|2.21||Performance|
|(financial inclusion indicator of<br>percentage of adult population<br>with<br>outstanding<br>loan<br>to<br>purchase a home)|Lower middle<br>Upper middle|2.17<br>2.57|2.15<br>2.49|High|order is: UM, LM,<br>L.|
|Housing<br>finance<br>access|Low|2.38|3.87||Performance|
|(proportion of population who<br>can access mortgage rate in SSA)|Lower middle<br>Upper middle|16.26<br>35.72|20.26<br>11.41|High|order is: UM, LM,<br>L.|
|Housing demand|Low|112.73|127.9||Performance|
|(annual housing demand)|Lower middle<br>Upper middle|115.33<br>23.67|201.33<br>34.58|Low|order is: UM, L,<br>LM.|
|Cheapest housing price (price of|Low|40388|58999||Performance|
|the cheapest, newly built house<br>by<br>a<br>formal<br>developer<br>or<br>contractor)|Lower middle<br>Upper middle|37381<br>32308|23090<br>22674|Low|order is: UM, LM,<br>L.|
|Housing input price<br>(cost of standard 50kg bag of|Low<br>Lower middle|12.21<br>10.42|5.1<br>1.96|Low|Performance<br>order is: UM, LM,|
|cement in US$)|Upper middle|7.61|0.53||L.|

_Source_ : Authors’ calculation based on a collection of data from a survey, the World Bank and Housing Finance in Africa yearbooks 2010, 2011 and 2013. Available at: www.housingfinanceafrica.org (accessed: 08/09/2014). _Notes_ : All measures are in US$. The countries included in each group are: (1) Lower income countries: Guinea-Bissau, Guinea, Sierra Leone, Liberia, Mali, Burkina Faso, Togo, Benin, Niger, Chad, Central African Rep., Dem. Rep. of Congo, Uganda, Kenya, Ethiopia, Eritrea, Somalia, Tanzania, Mozambique, Zimbabwe, Madagascar, Comoros; (2) Lower middle income countries: Cape Verde, Senegal, Mauritania, Ivory Coast, Ghana, Nigeria, Cameroon, Congo, Angola, Zambia, Lesotho; (3) Upper middle income countries: Gabon; Namibia, Botswana, South Africa, Equatorial Guinea.

**<u>Table A.2:</u>** Statistical Comparison of Housing Markets of Countries’ with French and British Legal Origins and Finance Policy

|||Mean|Std dev.|Benchmark|Comment|
|---|---|---|---|---|---|
|Housing finance policy<br>(mortgage rate)|French<br>speaking<br>English<br>speaking|15.91<br>16.16|7.25<br>6.3|Low|French speaking countries<br>perform better than English<br>speaking countries|
|Housing<br>finance<br>depth<br>(mortgage debt to GDP / credit<br>to GDP)|French<br>speaking<br>English<br>speaking|0.14<br>3.92|0.45<br>8.99|High|English speaking countries<br>perform better than French<br>speaking countries|
|Housing finance penetration<br>(financial inclusion indicator<br>of<br>percentage<br>of<br>adult<br>population with outstanding<br>loan topurchase a home)|French<br>speaking<br>English<br>speaking|1.88<br>3.26|2.25<br>2.27|High|English speaking countries<br>perform better than French<br>speaking countries|

20