Private home prices grew marginally in Q2

Prices of private homes rose marginally by 0.4 per cent in the second quarter of this year, according to the Urban Redevelopment Authority's or URA's flash estimates.

In the first quarter of 2012, private residential properties saw the first quarterly price fall of 0.1 per cent since the second quarter of 2009, following nine consecutive quarters of declining price increases.

URA says prices of non-landed private residential properties increased by 0.6 per cent in the core central region in the second quarter of 2012, compared to a decrease of 0.6 per cent in the previous quarter.

There was no change in the prices for private homes in the rest of central region.

Prices in outside central region increased at a slower pace of 0.4 per cent in the second quarter of 2012, compared to an increase of 1.1 per cent in the previous quarter.

The flash estimates are based on figures from the first ten weeks of the quarter.

Full results will be released in a month's time.