URA private home price index down 1.3% in Q3

THE Urban Redevelopment Authority said on Friday its price index for private homes fell 1.3 per cent in the third quarter this year over the preceding quarter.

This follows a 0.9 per cent quarter-on-quarter (q-o-q) decline in the index in Q2 2015.

In Q3, prices of landed homes slipped 0.4 per cent, a smaller decline compared with the 1 per cent drop in Q2.

Prices of non-landed homes fell 1.5 per cent in Q3, a bigger fall than the 0.8 per cent drop in Q2.

URA's overall rental index for private homes eased 0.6 per cent in Q3, a smaller decrease compared with the 1.1 per cent fall registered in Q2.

The vacancy rate for private homes stood at 7.8 per cent at end-Q3, down slightly from 7.9 per cent at end-Q2.