SINGAPORE: Prices for Housing and Development Board (HDB) resale flats fell slightly by 0.4 per cent in September when compared to August, while transaction volume rose by 3.9 per cent, according to the latest data released by SRX Property.
SRX Price Index (SPI) for HDB Resale (Chart: SRX Property)
In a report released on Thursday (Oct 8), SRX said prices for 3-room, 4-room and 5-room flats decreased by 0.1 per cent, 0.6 per cent and 1.1 per cent respectively, while the prices of HDB Executive Flats rose by 1 per cent.
Year-on-year, resale prices for HDB flats in September dropped 2.8 per cent, and have declined 11.6 per cent since its peak in April 2013, SRX said.
RESALE VOLUME INCREASED
The transaction volume of HDB resale flats also inched up by 3.9 per cent, with 1,504 flats sold last month, compared to the 1,447 units sold in August.
The overall resale volume increased by 2.4 per cent when compared on a year-on-year basis.
Compared to its peak of 3,649 units in May 2010, resale volume is down by 58.8 per cent, according to SRX.
The median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, turned -S$1,000 in September.
Chart: SRX Property)
This is down from zero in August, with the median TOX for a 3-room and 4-room flat as -S$3,000 and -S$1,000 respectively, the report stated.
On the other hand, 5-room and Executive flats posted S$1,000 and zero median TOX respectively.
For districts with more than 10 resale transactions, Kallang/Whampoa posted the highest median TOX of S$15,000. The lowest median TOX was in Punggol and Hougang at -S$12,000 and -S$8,000 respectively, SRX said.