HDB resale prices slightly up but volume falls, Latest Business News - The New Paper

HDB resale prices slightly up but volume falls

This article is more than 12 months old

Resale prices of Housing Board flats rose 0.2 per cent last month after a slight dip in October as the number of transactions fell again.

The price rise was most significant for executive flats at 2.5 per cent, while the cost of four-roomers dropped 0.3 per cent and that of five-room units fell 0.5 per cent, flash estimates by real estate portal SRX Property showed yesterday.

Resale prices of three-room flats remained unchanged, SRX added, although costs in mature estates rose 0.6 per cent, and dropped 0.1 per cent in non-mature areas.

Compared with November last year, resale prices last month were 1.7 per cent lower. They were also down by 14.1 per cent from a peak in April 2013.

The number of resale transactions continued to fall last month, with 1,881 HDB resale flats sold - down from 1,994 in October and 1,999 in September, and lower than the resale volume in November last year as well.

The overall median transaction-over-x value (TOX) was negative $1,000 again, remaining unchanged from October.

TOX is a measure of whether buyers are overpaying or underpaying for their units, compared with SRX's computer-generated market value.

The median TOX for HDB three-roomers last month was negative $2,000, while that of four-roomers was negative $1,000. This value was zero for five-room units and highest at $3,000 for executive flats.

Areas with the highest median TOX were Bukit Panjang and Hougang at $9,000, followed by Sembawang at $3,500.

Serangoon had the lowest median TOX at negative $10,000, and Bukit Merah came next at negative $9,000. - THE STRAITS TIMES