Chart of the Day: Private home price growth moderates to 1.3% in Q3

Condo price growth slowed to 1.3% from 2% in the previous quarter.

This chart from Savills shows that the growth rate of private home prices in Q3 contracted to 1.3% QoQ in Q3 from 1.5% in Q2.

Prices in the non-landed segment rose 1.3% QoQ, slower than the 2% recorded in the previous quarter. Core Central Region (CCR) saw its prices edge up 2%, whilst those in the Rest of Central Region (RCR) and Outside Central Region were up 1.3% and 0.8% respectively.

Landed properties rose 1%, a reverse from the 0.1% decline in Q2. The average prices in the luxury segment also inched up 0.4% QoQ in Q3.

The supply of uncompleted private homes with planning approval came at 50,964 units, which is 0.6% QoQ higher. However, 31,948 units or 62.7% of this pipeline supply remained unsold, , down 1,728 from 33,673 units in Q2.