Q2 private home prices stage rebound!

Prices of private homes in Singapore swung higher in the second quarter from the previous three months, government data showed on Monday, reversing a short-lived decline in the last quarter.

Preliminary data released by the Urban Redevelopment Authority (URA) showed private-residential prices rising 0.4% in the April-June quarter from the previous quarter. Home prices had eased 0.1% in the first quarter in the first decline since the second quarter of 2009.

URA said prices of non-landed private residential properties increased by 0.6 per cent in the core central region in Q2 this year, 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 of private homes outside the central region increased at a slower pace of 0.4 per cent in Q2, 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.

Source: Channel News Asia

The Q2 figures bring to mind the chorus of a certain "See Saw Song" written by Duncan Wells:

See saw
teeter-totter tilt
some folks smile some other folks frown
see saw
teeter-totter tilt
one goes up
the other goes down

.