HDB resale prices fell 0.9 per cent in the third quarter of this year, marking the first decline since the start of 2009, when deep recession hit. This is also larger than official estimates of a 0.7 per cent drop earlier.

Transaction volume was also lower, falling 13 per cent from the previous quarter to 4,529 cases. Comparatively, there were 6,560 deals done in the third quarter of last year. Property analysts expect fewer HDB flats to change hands this year, and resale prices to dip slightly.

This, they say, is a result of stricter controls on home loans, coupled with the attractiveness of the new Build-To-Order flats on offer. HDB is on track to launch 25,000 new flats this year, with about 5,000 due to be released next month.