The URA and HDB released flash estimates of property price changes for the second quarter 2018.
URA reported that the private residential property price index rose to 149 from 144.1 in the previous quarter, or a 3.4% growth.
The increase for non-landed private properties was highest compared to the previous quarter in the Rest of Central Region (RCR) at 5.7%, followed by the Outside Central Region (OCR) at 2.9% and 1.4% in the Core Central Region.
Overall, non-landed prices rose 3.3% compared to the previous quarter.
Compared to the same quarter last year, non-landed CCR prices rose 8.6%, RCR rose 8.0% and OCR rose 10.3%.
Overall non-landed prices rose 9.4% compared to the same quarter last year.
In the landed segment, prices rose 3.8% comapred to the pervious quarter and 7.6% compared to the same quarter last year.
2Q18 flash: 149 (QoQ: 3.4%, YoY: 9.1%)
2Q18 flash: 146.3 (QoQ: 3.3%, YoY: 9.4%)
Non landed CCR
2Q18 flash: 136.7 (QoQ: 1.4%, YoY: 8.6%)
Non landed RCR
2Q18 flash: 148.6 (QoQ: 5.7%, YoY: 8.0%)
Non landed OCR
2Q18 flash: 169.6 (QoQ: 2.9%, YoY: 10.3%)
2Q18 flash: 161.7 (QoQ: 3.8%, YoY: 7.6%)
The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and data on units sold by developers up till mid-June.
The statistics will be updated on 27 July 2018 when URA releases its full set of real estate statistics for 2nd Quarter 2018.
Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small.
The public is advised to interpret the flash estimates with caution.
HDB resale prices
In the HDB segment, resale flat prices rose 0.1% from the previous quarter, from 131.6 to 131.7, as measured by the Resale Price Index (RPI)
The slight increase reverse the quarterly declines since 2Q2018 (2Q17: -0.1%, 3Q17: -0.7%. 4Q17: -0.2%, 1Q18: -0.8%)
Compared to the same period last year, prices fell 1.5%.
On this note and as the HDB resale market continues to stabilise, HDB will reduce the supply of the Build-to-Order (BTO) flats in 2018 slightly, from 17,000 to about 16,000 flats.
In 1H2018, HDB had offered 11,373 flats, which included 7,634 BTO flats and 3,739 balance flats offered in the Sales of Balance Flats and Re-offer of Balance Flats exercises.
Also read: Recent en-bloc deals in the market
In Aug 2018, we will offer another 4,300 BTO flats in Punggol and Yishun. More information on the BTO flats is available on the HDB InfoWEB.
The RPI for the full quarter, together with more detailed public housing data, will be released on 27 July 2018.
URA private property index
HDB Resale price index
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