PRIVATE home prices shot up 15.8 per cent in the third quarter of this year - their biggest jump since 1981 - as Singapore's economy finally exited its recession.

Prime non-landed homes in the central areas saw prices increase by 15.2 per cent, while city-fringe condominiums jumped in price by 18.5 per cent. Prices of mass-market apartments in the suburban areas rose 16.1 per cent, according to finalised data released by the Urban Redevelopment Authority (URA) on Friday.

The URA's flash estimates for the third quarter, released earlier this month, had said private home prices went up by 15.9 per cent in the third quarter.

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» HDB resale prices up 3.6%

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