What is the growth indicator: growth over 16 quarters or average?

When evaluating the growth of Singapore's real estate market, both the 16-quarter growth trend and the average growth rate are important indicators, but they serve different purposes.

- 16-quarter growth trend: This indicates the long-term direction and stability of the market. For instance, the Property Index for All Private Residential Properties published by the Urban Redevelopment Authority (URA) shows a year-on-year growth of 4.44% as of Q3 2024, despite a quarter-on-quarter decline. This long-term view helps in understanding the market's overall performance and trends over an extended period.

- Average growth rate: This provides a snapshot of the average performance over a specified period. For example, the cumulative price increase for private homes in the first three quarters of 2024 was a modest 1.6%, which is an average growth rate over that period. This helps in assessing the market's recent performance and comparing it to previous periods.

In the context of specific projects like Clavon, The Clement Canopy, or The Lakefront Residences, looking at both the 16-quarter growth trend and the average growth rate can give a comprehensive view of their performance. The 16-quarter trend shows long-term stability and growth, while the average growth rate highlights recent market conditions and short-term fluctuations.