Tuesday, April 3, 2012

Private home prices dip after nearly 3 years

Straits Times: Tue, Apr 03
PRIVATE home prices have fallen for the first time in almost three years, according to estimates out yesterday.

Overall prices fell 0.1 per cent in the three months to March 31 - the first decline since the global financial crisis in the second quarter of 2009 and a reversal from the 0.2 per cent rise in the fourth quarter last year.

The decline had been tipped for a while, given the slowing pace of price increases over the past two years as the Government introduced five rounds of cooling measures. Prices have risen about 55per cent from the middle of 2009 to now...

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