By Romesh Navaratnarajah: The overall private residential property price index climbed 0.4 percent to 206.8 in Q2 2012, up from 206.0 in the previous quarter, according to flash estimates released by the Urban Redevelopment Authority (URA).
The rise counters the 0.1 percent decline seen in the previous quarter.
In addition, prices of non-landed private homes rose by 0.6 percent in the Core Central Region (CCR) during Q2 compared to the first quarter's 0.6 percent drop.
In the Rest of Central Region (RCR), prices were stable while it inched up at a slower pace of 0.4 percent in the Outside Central Region (OCR) compared to the previous uptick of 1.1 percent.
"The flash estimates are compiled based on transaction prices given in caveats lodged during the first ten weeks of the quarter supplemented by information on the number of new units sold by developers," the URA said.
Meanwhile, the Housing and Development Board (HDB) also released its flash estimates of the Resale Price Index (RPI) for Q2.
The index stands at 194.0, up 1.3 percent from the first quarter. Related Stories: Landed homeowners sitting on a gold mine
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