Chart of the day: Check out slipping residential price index in August

Private condo prices dipped 0.6%.

Price corrections in the city-state’s housing market are not over yet as prices of completed private apartments and condominiums pulled back to contraction in August, following a modest increase in July.

According to National University of Singapore's August 2016 flash estimate of Overall Singapore Residential Price Index (SRPI), the price contraction of 0.6% this month is a huge drop in contrast from the hopeful 0.3% gain the previous month.

The prices for non-central units saw the biggest contraction this month at 0.9%.

SRPI for small units crawled back to a 0.1% contraction after reflecting a flat growth in July.

Meanwhile, after gaining a 0.6% expansion in July, index for central units maintained a flat growth in August.