Is there value in having so many indices to track residential market?

TRACKING property price movements is a major preoccupation for many when it comes to buying or selling a house, or just keeping tabs on the current value of their homes, and more so in Singapore where some 90 per cent of resident households own their homes.

Amid this obsession, several private sector players have created their own proprietary indices to track the residential market, on top of what are published by government agencies.

Last week saw the launch by the Singapore Institute of Surveyors and Valuers (SISV) of an index suite to track resale transactions of completed condominiums in the suburban region.