Non-landed private residential prices down 0.7% in April: SRX Property

Non-landed private residential resale prices have slipped 0.7 per cent in April 2015 compared to a month ago, according to data by SRX Property released on Tuesday (May 12).

Year-on-year, resale prices dropped 4 per cent from April 2014, and compared to the peak in January 2014, prices have fallen 6.9 per cent, the data showed.

Resale prices of non-landed private homes in the Core Central Region and the Outside of Central Region dipped 0.1 per cent and 1.5 per cent, respectively. In contrast, prices in the Rest of Central Region rose by 0.4 per cent.

Resale volume was also down in April, with 440 non-landed private residential units sold – a 2.7 per cent dip compared to March 2015. But year-on-year, resale volume was 1.9 per cent higher compared with the 432 units sold in April last year.

Resale volume was down 78.5 per cent compared to the peak of 2,050 units resold in April 2010.

TOX REACHES NEUTRAL LEVEL

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value, has improved by S$10,000 to reach S$0 in April.

For districts with more than 10 resale transactions, district 16 (Bedok, Upper East Coast) had the highest median TOX of S$20,000. This means that majority of the buyers in this district has purchased units above the computer-generated market value, said SRX Property.

Conversely, district 15 (Katong, Joo Chiat, Amber Road) had the lowest median TOX with -S$21,000.

Source : Channel NewsAsia – 12 May 2015

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