Chart of the Day: Home price growth moderated to 0.3% in Q4 2019

The absence of new launches in the RCR weighed on overall prices.

This chart from JLL Research showed that URA’s overall private residential property price index rose 0.3% in Q4 2019, moderating from the 1.3% increase in Q3. This was buoyed by a 4% growth in landed home prices.

In contrast, condo prices dipped 0.7%, compared to a 1.3% rise in 3Q19. The Core Central Region (CCR) showed the sharpest drop in price at 3.7%, followed by the Rest of Central Region (RCR) at 1.4%. This was offset by a 2.9% growth in the Outside Central Region (OCR).

“In the absence of new launches in RCR in 4Q19, the proportion of new sales dropped significantly during the quarter as well as the number of transactions above $2,000 psf,” JLL senior director of research & consultancy Ong Teck Hui said.