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Flash URA Price Indices For Private Home Show Slump In All Segments

| Property Articles | 01/07/2014

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Prices for overall private homes dipped, yet again, in 2nd Quarter 2014 as indicated by the flash estimates of the Urban Redevelopment Authority (URA) price index.

For the latest quarter, the price tumble at 1.09 per cent is smaller than the preceding quarter’s 1.26 per cent. The price index slid from 211.6 in the 1st Quarter to 209.3.

For non-landed private residences, the decline was greatest for the Core Central Region (CCR), followed by the Outside Central Region (OCR) and the Rest of Central Region (RCR) at 1.5, 1.1, and 0.6 per cent, respectively. In the preceding quarter, the dip was 1.1, 0.1 and 3.3 per cent.

For the landed counterparts, prices fell 1.5 per cent over 0.7 per cent in the previous quarter.

While the preliminary figures suggest a tempered private housing market, it remains to be seen if the full real estate statistics, released on the 24th or 25th of this month, will show the same results.

Table 1: URA Price Index And Q-o-Q Change, 3Q 2009 – 2Q 2014

 

Period

URA Property Price Index: All Private Residential

(exclude EC)

Quarter-on-Quarter Change

2Q2014

209.3 (Flash Estimate)

(1.09)

1Q2014

211.6

(1.26)

4Q2013

214.3

(0.92)

3Q2013

216.3

0.42

2Q2013

215.4

1.03

1Q2013

213.2

0.57

4Q2012

212

1.83

3Q2012

208.2

0.63

2Q2012

206.9

0.44

1Q2012

206

(0.10)

4Q2011

206.2

0.24

3Q2011

205.7

1.33

2Q2011

203

1.96

1Q2011

199.1

2.21

4Q2010

194.8

2.74

3Q2010

189.6

2.93

2Q2010

184.2

5.26

1Q2010

175

5.61

4Q2009

165.7

7.39

3Q2009

154.3

15.75

Source: URA

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