Headline: HDB Resale Price Decreases by 0.1%; Volume Increases by 37.6%.
- HDB resale prices decrease slightly in March. There was a slight decrease of 0.1% in HDB Resale prices in March 2016 compared to that of February 2016. The resale prices of HDB 3 Rooms, 4 Rooms and Executive Flats decreased by 0.8%, 0.2% and 1.6% respectively. On the other hand, the resale prices of HDB 5 Room Flats increased by 0.7%.
According to the SRX Property Price Index for HDB Resale:
- Year-on-year, prices have increased by 0.1% from March 2015;
- Prices have declined by 11.0% since the peak in April 2013;
- There is no revision for price changes in February 2016.
According to the SRX Property Price Sub-Indices for HDB Resale:
- In March 2016, HDB resale prices decreased in mature estates by 0.3% while resale prices in non-mature estates remained the same;
- Year-on-year, prices in mature estates have increased by 0.3% from March 2015;
- Year-on-year, prices in non-mature estates have decreased by 0.1% from March 2015;
- Resale volume increases. According to HDB resale data compiled by SRX Property, 1,651 HDB resale flats were sold in March 2016, a 37.6% increase from 1,200 transacted units in February 2016.
- Year-on-year, resale volume increased by 22.5% compared to 1,348 units resold in March 2015;
- Resale volume was down by 54.8% compared to its peak of 3,649 units in May 2010.
3. Overall median Transaction Over X-Value (T-O-X) is ZERO in March. According to SRX Property, the median T-O-X for HDB was ZERO in March 2016. 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 ZERO in March 2016, increased by $2,000 compared to the figure in February 2016;
- Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in March 2016 were NEGATIVE $100, POSITIVE $1,900, ZERO and NEGATIVE $5,000 respectively.
- Clementi posts the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in March 2016, Clementi reported the highest median TOX of POSITIVE $10,000 followed by POSITIVE $8,500 in Bukit Panjang.
This means that majority of the buyers in these towns have purchased units above the computer-generated market value.
- Among relatively active towns, Central Area posts the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in March 2016, the lowest median T-O-X was in Central Area at NEGATIVE $12,000, followed by Serangoon at NEGATIVE $8,000.
This means that majority of the buyers in these towns have purchased units below the computer generated market value.
Source: SRX