HDB Resale Volume Up Almost 20% from Last Year while Overall Monthly Price Change is Flat
HDB Resale Volume Up Almost 20% from Last Year while Overall Monthly Price Change is Flat
Observations:
- 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.
HDB Resale Volume Up Almost 20% from Last Year while Overall Monthly Price Change is Flat
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