Towards Financial Freedom
URA's private home price index rose in 2Q13
URA's private home price index rose in 2Q13. The Urban Redevelopment Authority (URA) released a second quarter flash, showing a 0.8% q-o-q increase in its benchmark private home price index which is supported by a 3% climb in prices of non-landed homes in suburban areas. This compares with respective increases of 0.6% and 1.4% in Q1. According to CBRE's analysis of caveats lodged for developers' sales of non-landed homes in Outside Central Region (OCR), the median price rose from SGD1,083psf in Q1 to SGD1,185psf. Despite the hike in psf prices, the quantum per unit eased from SGD940,000 to SGD924,000, showing that absolute prices have remained affordable - due to a reduction in the median unit size from 88 sq m (947 sq ft) to 72 sq m (775 sq ft). The URA's non landed private home price index in Core Central Region dipped 0.2% q-o-q in Q2 while that in the Central Region rose 0.2%. The Q2 overall private home price index was up 3.9% y-o-y. (Business Times)
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