Moderation in Private Housing Market

The first half of the year ended with fervour in the private property market notably tempered in Q2 this year, marking the first quarterly decline since the start of 2020.

While the 0.2% fall in prices might have been less steep than that predicted, it nonetheless points towards stablisation of the private housing market.

The 0.6% drop in the prices of non-landed homes also serves as a stark contrast to the 2.6% growth in the preceding quarter.

Landed home prices continued its hike, though the 1.1% rise is short of even one-fifth of that recorded in Q1 this year.

The moderation of prices may have, in part, been due to the recent rounds of cooling measures that were implemented within less than a year. This is further accentuated by interest rates, which remain high.

Interested in learning how you could work around this trend in your property journey? Contact us today!