Chart of the Day: Private home price index edged up 0.4% to 216.2 in 3Q13

What could this imply for the market?

The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 3rd Quarter 2013. 

Overall, the private residential property index rose 0.8 points from 215.4 points in 2nd Quarter 2013 to 216.2 points in 3rd Quarter 2013. This represents a moderate increase of 0.4%, compared to the 1.0% increase in the previous quarter. 

Prices of non-landed private residential properties in both Core Central Region and Rest of Central Region declined in 3rd Quarter 2013.

In Core Central Region, prices fell 0.5%, more than the 0.2% decline in the previous quarter. Prices in Rest of Central Region decreased for the first time since 1st Quarter 2012, by 1.1%, compared with the 0.2% increase in the previous quarter.

In Outside Central Region, prices increased by 2.1% in 3rd Quarter 2013, which is lower than the 3.8% increase in the previous quarter.