RECENT price gains of relatively scarce landed homes have far outstripped rises for non-landed homes such as condominiums, leading to talk of an increasingly segmented market.

Overall, private home prices rose 2.9 per cent in the three months to Sept 30 - below the preliminary estimate of 3.1 per cent, according to the Urban Redevelopment Authority's third quarter price index released yesterday.

But the market was buoyed by landed home prices, which surged 7.7 per cent in the third quarter - up from 6.2 per cent in the previous quarter.

Prices of non-landed homes, in contrast, inched up only 1.6 per cent as the market slowed, owing to the impact of the Government's property cooling measures introduced on Aug 30.

Detached homes, in particular, have led the pack with a strong 8.4 per cent price jump. They are now up 27 per cent in the first nine months of the year.

Prices of terrace and semi-detached homes also rose 7.2 per cent and 7.5 per cent respectively from the previous quarter, surging 22 per cent and 23 per cent since the start of the year. This compares with a 12 per cent price gain in the same period for non-landed homes.

Landed prices rising faster