The housing segment witnesses a major fall this year. The decline in the sales of the houses by 8% is attributable to the fall in property rates.

The segment met a total fall by 17% in past two months after 2006. On the contrary, the houses taken on rent are running smooth and the increase in the population is also going at a good pace. The segment is expected to rise by the end of the 2011 and beginning of the year 2012, with the increase in the value of labour economy.

On the contrary, rates of resale property have seen gain at the index at a slower pace reaching the mark of 0.2% in the month of July. According to report released by the National University of Singapore, an increase in rate of land by 0.7% was witnessed in the month of June.

Also, the prices of the fuel have increased in Singapore by $3.50 amounting to AUD$119.40 a barrel, previous week. The Australian Institute of Petroleum revealed that the average price of unleaded petrol in Australia increased by 1.3 cents amounting to 141.5 cents per litre on August 28.