HDB Resale Volume Up Almost 20% from Last Year while Overall Monthly Price Change is Flat
HDB resale prices remained flat in May. HDB resale prices remained unchanged in May 2015 compared to April 2015. Resale prices of HDB 3 and 4 Room Flats dropped by 0.2% and 0.9% respectively, while prices of HDB 5 Room and Executive Flats went up by 0.7% and 1.3% respectively.
According to the SRX Property Price Index for HDB Resale:
Year-on-year, prices have dropped 5.0% from May 2014;
Prices have declined 11.0% since the peak in April 2013;
There is no revision for price change in April 2015.
According to the SRX Property Price Sub-Indices for HDB Resale:
In May 2015, HDB resale prices decreased by 0.1% in mature estates, while increased by 0.1% in non-mature estates;
Year-on-year, prices in mature estates have declined 3.9% from May 2014;
Year-on-year, prices in non-mature estates have declined 6.0% from May 2014;
Resale volume decreased slightly from last month. According to HDB resale data compiled by SRX Property, 1,575 HDB resale flats were sold in May 2015, a slight 2.2% decrease from 1,610 transacted units in April 2015.
Year-on-year, resale volume increased by 19.3% compared with 1,320 units resold in May 2014;
Resale volume is down 56.8% compared to its peak of 3,649 units in May 2010.
Overall median Transaction Over X-Value (T-O-X) remained negative. According to SRX Property, HDB prices continue to face downward pressure and negative market sentiment in May 2015. The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.
Overall Median T-O-X was NEGATIVE $2,000 in May 2015, unchanged from NEGATIVE $2,000 in April 2015;
Median T-O-X for HDB 3, 4, 5, Room and Executive flats were all negative in May 2015.
Punggol posted the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in May 2015, Punggol reported the highest median TOX of $8,000.
This means that majority of the buyers in these towns has purchased units above the computer-generated market value.
Among relatively active towns, Tampines and Toa Payoh posted the most Negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in May 2015, the lowest median T-O-X were in Tampines and Toa Payoh at NEGATIVE $ 9,000.
This means that majority of the buyers in these towns has purchased units below the computer generated market value.