URA private home price index falls for 8th consecutive quarter

PRICES of private homes have fallen for the eighth consecutive quarter.

The Urban Redevelopment Authority (URA) said on Thursday morning that its flash estimates for the third quarter of 2015 reflect a 1.3 per cent quarter-on-quarter (q-o-q) drop in the overall private residential property price index. This is a bigger drop than the 0.9 per cent q-o-q fall in Q2 2015.

Prices of non-landed private residential properties declined in all market segments.

In Core Central Region, prices fell 1.3 per cent in Q3, compared to the 0.6 per cent decline in the previous quarter.

Prices in the city fringe or Rest of Central Region, fell 1.5 per cent, compared to the 0.6 per cent decline in the previous quarter.

In the suburbs or Outside Central Region, prices eased 1.6 per cent, compared to the 1.1 per cent decline in the previous quarter.