The government releases flash estimates today on the increase in prices of private homes and HDB resale flats during the April to June period.

The government releases flash estimates today on the increase in prices of private homes and HDB resale flats during the April to June period.

The private home data covers three broad zones. These are the core central region, comprising Districts 9 to 11, the Marina area and Sentosa; the rest of the central region, up to Queenstown and Marine Parade; and all other suburbs outside those central designations.

The flash estimates are based on caveats lodged during the first 10 weeks of the last three months. They will be updated a month later when more data is captured. The actual figures are due on July 27.

WHY IT MATTERS

The private property market has been sizzling in recent months, with record prices being set in almost every category. Indications are that the boom is finally filtering down to the lower end of the market and the estimates will throw more light on how this segment is faring.

In the first three months of this year, private home prices and rents posted their biggest jump in seven years.

The estimates will indicate if the market rally is truly becoming more broad-based and will give home owners and buyers an inkling of where values are headed.

Source: The Straits Times, 02 July 2007