Fri, 2017-07-07 08:44 — benson.ong
HDB resale volume falls in June amid holidays, prices dip slightly
SINGAPORE — The volume of HDB resale flats transacted fell in June from a month earlier, largely due to a slowdown in activity amid the school holidays, while prices extended their gradual monthly decline, a flash report from SRX Property showed on Thursday (July 6).
An estimated 1,753 units changed hands last month, down 11.6 per cent from the 1,984 units resold in May and down 5 per cent from June a year earlier, the report showed. Resale volume fell 52 per cent from the peak of 3,649 units in May 2010. Resale prices fell 0.1 per cent last month from May, and were down 0.2 per cent from June a year earlier. From their peak in April 2013, HDB resale prices have declined by 11.7 per cent, the report showed.
Last month's fall in prices was led by the 1.5 per cent drop in five-room flats, while 4-room and 3-room flats registered declines of 0.3 per cent and 0.2 per cent, respectively. Resale prices of executive apartments bucked the trend with a 1.7 per cent rise. An executive apartment in Queenstown changed hands just shy of the S$1 million mark at S$997,000, the report showed.
The overall median Transaction Over X-Value (TOX) — which measures whether buyers are overpaying or underpaying compared to SRX Property's computer-generated estimate of market value — was negative S$1,000 in June, up from the negative S$2,000 in May.
Among the HDB towns having more than 10 resale transactions with TOX in June, Bukit Merah reported the highest median TOX of positive S$6,000, followed by the positive S$4,000 in Bukit Batok and Sengkang. On the flip side, among the HDB towns having more than 10 resale transactions, the lowest median TOX was in Toa Payoh at negative S$17,000, followed by Punggol at negative S$8,000.