Home prices up only 1% on-month in Dec: SRPI

Home prices grew only 1 per cent on-month, according to the National University of Singapore (NUS) Singapore Residential Price Index (SRPI) for December 2010.

The Singapore Residential Price Index for all properties grew 0.9 per cent on-month to 155.5 points, compared to 154.1 in November 2010.

Suburban home prices grew the most, with on-month growth coming in at 2.2 per cent to reach 154.8, compared to 151.4 in November last year.

However, homes prices in the central region fell – on-month growth came in at -0.8 per cent to 161.0, compared to 162.3 a month before.

The SRPI is a transactions-based index that tracks the month-on-month price movements of private non-landed residential properties in Singapore.

Compiled by the NUS Institute of Real Estate Studies, the index covers only completed non-landed properties in the central region and non-central regions.

Source : Channel NewsAsia – 28 Jan 2011