Resale prices of private homes down 0.4% in April: SRX

Resale prices of private homes declined marginally by 0.4 per cent in April compared to March. Resale volumes also remained low, with 572 non-landed units transacted compared to 614 in the previous month.

On a year-on-year basis, the resale volume recorded in April represented a more than 50 per cent drop from the same period last year.

This is according to data from major property agencies compiled by the Singapore Real Estate Exchange (SRX).

The SRX also said that prices of resale non-landed private homes in the city area and city fringes dropped 1.9 per cent over the previous month.

Prices of those in the city area fell for the fourth consecutive month to an average of S$1,722 per square foot. Prices of those in the city fringes fetched SS$1,267 per square foot. In contrast, resale prices of private homes in the suburbs saw a 1.0 per cent increase to reach an average per square foot price of S$1,022 in April.

Meanwhile, overall rental prices for non-landed private homes in April slipped by 1.0 per cent compared to March.

On the public housing front, overall cash-over-valuation (COV) for HDB resale flats dropped S$1,000 to end at S$30,000 in April. This was the lowest monthly COV since September 2012.

However, the median resale price of HDB flats continued its uptrend to reach S$465,000 in April, up 1.1 per cent from S$460,000 in March.

According to flash figures, resale transaction volumes for HDB flats remained fairly stable in April with 1,271 HDB flats sold.

Source : Channel NewsAsia – 10 May 2013

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