RESIDENTIAL property price growth slowed in the first quarter from three months earlier, the Bangko Sentral ng Pilipinas reported late Friday.The Residential Real Estate Price Index slipped to 6.1 percent year-on-year for the period, dropping from the 6.5 percent posed in the fourth quarter of 2023.Quarter-on-quarter growth, meanwhile, rebounded by 1.1 percent from the -3.6 percent contraction in the previous quarter.Price growth for single-detached/attached houses slowed to 5.1 percent from 9.
Quarter-on-quarter, NCR prices declined by 5.6 percent, while prices outside the NCR recorded an uptick to 4.1 percent.Housing loan growth, meanwhile, grew by 8.9 percent year-on-year, with the NCR and areas outside it posting gains of 3.2 percent and 11.4 percent, respectively.Quarter-on-quarter, nationwide loan availments contracted by 24.2 percent as both the NCR and areas outside recorded slumps of 35.3 percent and 18.2 percent.The bulk of approved housing loans, or 83.
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