The resale volume of Housing and Development Board (HDB) flats shrank in November after rising 16 per cent in October, SRX Property said on Thursday (Dec 3).
A total of 1,467 HDB resale flats were sold last month, down from the 1,745 transacted units in October. However, on a year-on-year basis, resale volume was up 8.7 per cent.
Resale prices climbed 0.4 per cent in November. Prices of four- and five-room flats rose 0.5 per cent and 1.4 per cent respectively, while prices for three-room and executive flats fell 0.7 per cent and 0.2 per cent respectively.
Overall resale prices were down 1.9 per cent compared with a year ago, SRX Property said.
Said Mr Mohamed Ismail, CEO of PropNex: “But what’s interesting though is that the overall volume of public housing is doing very well compared to the last two years. We had about 18,000-plus transactions in 2013 and last year only 17,300 over, and this year, we are likely to hit close to 19,000 – that is a 10 per cent increase in the volume of transactions.”
The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, fell from S$1,000 in October to zero last month.
For HDB towns with more than 10 resale transactions in November, Geylang posted the highest median TOX of S$6,500, followed by S$6,000 in Clementi. The lowest median TOX were in Toa Payoh and Bukit Panjang, at -S$10,000 and -S$8,000 respectively.
Source : Channel NewsAsia – 3 Dec 2015