Chart of the Day: Find out the region where property prices dipped most in 2014

Buying activity will be centered in the outskirts.

Property prices across all market segments have been declining steadily in 2014. However, while the price index for private property in all market segments experienced a dip in the first half of 2014, the decline was not uniform across each region.

PropertyGuru’s Property Outlook for 2H14 showed that prices in the CCR saw the greatest fall with a 1.5 percent drop in Q2 2014, higher than the 1.1 percent decline in the previous quarter.

Meanwhile, prices in the RCR inched downwards by a moderate 0.6 percent as compared to the 3.3 percent decline in Q1 2014. The OCR managed to maintain its lead with only a 1.6 percent decrease in the fir st two quarters.

Here’s more from PropertyGuru:

Transaction volumes in the private residential property market will continue to be driven by new home sales in the second half of 2014. Buying activity will likely be centred in the OCR, given that 59 percent of sales in the first half was contributed by the launch of developments within this region. As such, prices in the OCR are expected to perform better moving forward as compared to the CCR and RCR.

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