Residential prices rise by 5pc in second quarter

Local | 10 Aug 2018 5:31 pm

Prices of flats increased by 5 percent between March and June, while the index of home purchase affordability worsened to 74 percent in the second quarter, the government reported today in a second quarter review.

The residential property market was buoyant in the second quarter.

The number of home deals increased from 15,000 in the first quarter to 18,900 in the second quarter.

Overall flat prices in June exceeded the 1997 peak by 125 percent.

Between March and June, flat rentals went up by 2 percent.

Shop and office rentals increased by 1 percent and 2 percent respectively in the same period.

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