HDB resale prices dip 0.1% in October: Property index

The resale prices of Housing and Development Board (HDB) flats fell marginally last month, according to flash estimates released by a property index on Thursday (Nov 3).

On a month-on-month basis, HDB resale prices in mature and non-mature estates both decreased by 0.1 per cent in October. Compared to a year ago, prices were down 0.5 per cent, SRX Property said.

Resale prices of three-room and executive flats led the rise, increasing by 0.6 and 0.8 per cent, respectively. In contrast, the resale prices of five-room flats fell by 0.9 per cent while four-room flats remained the same.

A total of 1,673 HDB flats were sold last month, more than the 1,666 units transacted in September this year. However, this was 73 units fewer than the number sold in the same period a year ago, according to the flash estimates.

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, was zero in October. It decreased by S$2,000 compared to the figure in September.

For HDB towns with more than 10 resale transactions, Toa Payoh posted the highest median TOX of S$8,000, followed by Bedok with S$6,500. The lowest median TOX was in Geylang at -S$8,000, followed by Bishan at -S$6,500.

Source : Channel NewsAsia – 3 Nov 2016

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