HDB resale prices fall 1.4% in Q4 2014, marking sixth straight quarterly drop

RESALE prices of public housing fell for the sixth consecutive quarter, to 2011 levels, with prices in the fourth quarter of 2014 down 1.4 per cent from the third quarter of last year. This represents a 6 per cent drop from a year ago.

The Housing & Development Board's (HDB) flash estimate of the fourth-quarter Resale Price Index (RPI) uses the revised "stratified hedonic regression" method, which allows for better control for variations in flat attributes compared to the previous "stratification" method.

Its data coverage for the RPI is also expanded to 12 previously excluded towns and the index is rebased to the first quarter of 2009.

The finalised RPI for the full quarter and more detailed public housing data for the fourth quarter will be released on Jan 23, HDB said.

HDB plans to launch four Build-to-Order (BTO) exercises this year, with a total supply of 16,900 new flats. This will include BTO flats in new areas such as Bidadari and Punggol Northshore.

The first BTO exercise will be held in February, when some 3,940 new flats in Bukit Batok, Geylang and Hougang will be rolled out.