Home prices down for the 14th consecutive quarter in Q1

Price index was down by 0.4%.

The housing market is stuck in the negative cycle as prices recorded its 14th consecutive decline in the past quarter.

According to the latest data by URA, prices of private residential properties decreased by 0.4%, compared with the 0.5% decline in the previous quarter.

Meanwhile, prices of landed properties were down by 1.8%, compared with the 0.8% uptick in 4Q16. Non-landed prices remained unchanged.

Here's more from URA:

Prices of non-landed properties in Core Central Region (CCR) decreased by 0.4%, compared with the 0.1% increase in the previous quarter.

Prices of non-landed properties in Rest of Central Region (RCR) and Outside Central Region (OCR) increased by 0.3% and 0.1% respectively, compared with the 2.0% and 0.6% decrease in the previous quarter respectively.