Headline: Private Resale Non-Landed Prices drop 0.6% in Oct; Volume increases close to 10%
- Non-landed Private Residential Resale prices slide in October. Non-landed Private Residential Resale prices decreased by 0.6% in October 2015 compared to September 2015. In individual sectors, CCR, RCR and OCR all posted a price drop of 1.1%, 0.5% and 0.4% respectively.
According to the SRX Non-landed Private Residential Price Index:
- Year-on-year, prices in October 2015 dropped 2.6% from October 2014;
- October 2015 prices are down 7.6% from the recent peak in January 2014 (178.8).
- Price change in September was revised from a 0.1% decrease to a 0.3% decrease.
- Resale volume up 9.8%. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 505 Non-landed Private Residential units were resold in October 2015. This is an increase of 9.8% compared to 460 units resold in September 2015.
- Year-on-year, resale volume in October 2015 was flat compared to with 504 units resold in October 2014;
- Resale volume was down by 75.4% compared to its peak of 2,050 units resold in April 2010.
- Overall median Transaction Over X-Value (TOX) decreased in October 2015.The median T-O-X for Non-landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.
- The median T-O-X in September 2015 is a NEGATIVE $3,000.
- District 15 posts the highest median T-O-X. For districts with more than 10 resale transactions in October 2015, District 15 (Katong, Joo Chiat, Amber Road) posted the highest median T-O-X of POSITIVE $20,000.
- This means that a majority of the buyers in this district purchased units above the computer-generated market value.
- Among relatively active districts, District 14 posts the most negative median T-O-X. District 14 (Geyang, Eunos) posted a T-O-X of NEGATIVE $30,000.
- This means that a majority of the buyers in these districts purchased units below the computer-generated market value.