0.6% drop in Q3 HDB resale price index surprises analysts

Singapore

THE Housing & Development Board's (HDB) flash estimates for the third quarter surprised some consultants with a resale price dip of 0.6 per cent over the second quarter.

This follows quarter-on-quarter declines of 0.1 per cent in Q2 this year and 0.5 per cent in Q1.

Since Q4 last year, the HDB resale price index has shed 1.3 per cent. The third quarter's decline is the biggest since Q1 2015, when the index shed one per cent.

HDB said on Monday that the resale price index for the full third quarter, together with more detailed public housing data, will be released on Oct 27.

Market observers commented that after showing signs of stabilising last year, the decline in the HDB resale price index gained momentum in Q3 2017. This surprised some of them as this was in contrast to the 0.5 per cent quarter-on-quar…