Philippine housing prices rise in Q2

- BSP data

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The BSP's Residential Property Price Index (RPPI) showed housing prices nationwide went up by 7.5% in the April-June period from 7.4% a year ago.

However, this was a tad slower than the 7.6% annual growth seen in the first quarter.

Quarter on quarter, the RPPI rose by 4.2%, outpacing the 2.6% growth in home prices logged in the first quarter.

The RPPI measures the average price changes over time of various residential properties using banks' data on actual housing loans. The central bank said the data gives insight on the real estate and credit market conditions in the Philippines.

However, home prices in the National Capital Region (NCR) went up by 2.4% in the second quarter, slowing from the 13.9% in the previous quarter and 9.3% last year.

Quarter on quarter, NCR housing prices contracted by 3.6%.

Outside of NCR (AONCR), home prices rose by 11.5% during the April to June period, faster than the 3% in the first quarter and 7.2% a year ago.