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 Capitalise on the cooling market by buying now. Speak to an iCompareLoan mortgage broker. Compare mortgage loan Singapore.

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