HDB and private home prices fell marginally in Q2
By Lin Zhiqin
/ HDB, URA, The Edge Property |
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Resale prices of HDB flats slipped 0.4% quarter-on-quarter (QoQ) in 2Q2015, according to flash estimates by HDB. This is smaller than the 1.0% decline seen between 4Q2014 and 1Q2015 (Table 1 and Figure 1). The RPI and more detailed public housing data for 2Q2015 will be released on 24 July 2015.
HDB will further taper the BTO flat supply this year to 15,000 flats. This will be augmented with over 9,000 Sale of Balance (SBF) flats to ensure adequate supply. HDB had offered 8,039 flats in two BTO exercises and 5,387 flats in a SBF in 1H2015. Another 4,860 BTO flats in Bidadari and Punggol Northshore as well as about 4,000 SBF flats will be offered by Sep 2015.
Separately, prices for private residential property fell for the seventh consecutive quarter by 0.9% QoQ in 2Q2015. This was also smaller than the 1.0% QoQ decline seen in 1Q2015 (Figure 2a). Prices of non-landed private residential properties declined in all market segments, with the largest decline seen in the Outside Central Region (OCR) or mass market (Figure 2b). Prices in the OCR declined by 1.2% in 2Q2015, which was steeper than the 1.1% seen in 1Q2015. Prices in the Core Central Region (CCR) or high-end segment declined by 0.5%, also steeper than the 0.4% seen in 1Q2015. Prices in the Rest of Central Region (RCR) or city fringe declined by 0.5%, which was smaller than the 1.7% decline in 1Q2015.
The indices are scheduled to be updated in four weeks’ time when URA releases the full real estate statistics for 2Q2015.
Table 1: Resale Price Index
Source: HDB
Figure 1: Resale Price Index
Source: HDB
Figure 2a: Private residential property price index
Source: URA
Figure 2b: Property price index of non-landed private residential property
Source: URA
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