Headline: HDB Resale Price inches down by 0.1%; Volume at Record High post Cooling Measures.
1. HDB resale price inches down in April 2016. HDB resale prices decrease 0.1% in April 2016 compared to that of March 2016. The resale prices of HDB 3 Rooms and Executive Flats increased by 0.6% and 0.1% respectively. On the other hand, the resale prices of HDB 4 Room Flats remained the same while HDB 5 Rooms resale prices decreased by 0.9%. Prices have remained relatively flat for the past year since Apr 2015.
According to the SRX Property Price Index for HDB Resale:
- Year-on-year, prices have inched down by 0.2% from April 2015;
- Prices have declined by 11.1% since the peak in April 2013;
- There is no revision for price changes in March 2016.
According to the SRX Property Price Sub-Indices for HDB Resale:
- In April 2016, HDB resale prices increased in mature estates by 1.0% while resale prices in non-mature estates decreased by 1.0%;
- Year-on-year, prices in mature estates have increased by 0.5% from April 2015;
- Year-on-year, prices in non-mature estates have decreased by 0.8% from April 2015;
2. Resale volume increases. According to HDB resale data compiled by SRX Property, 1,828 HDB resale flats were sold in April 2016, a 10.3% increase from 1,657 transacted units in March 2016. The volume represents a record high since the recent cooling measures of ABSD2 and TDSR were introduced in 2013 (see http://www.srx.com.sg/cooling-
- Year-on-year, resale volume increased by 13.5% compared to 1,610 units resold in April 2015;
- Resale volume was down by 49.9% compared to its peak of 3,649 units in May 2010.
3. Overall median Transaction Over X-Value (T-O-X) is ZERO in April 2016. According to SRX Property, the median T-O-X for HDB was ZERO in April 2016. The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.
4. Queenstown posts the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in April 2016, Queenstown reported the highest median TOX of POSITIVE $11,000 followed by POSITIVE $8,000 in Tampines.
This means that majority of the buyers in these towns have purchased units above the computer-generated market value.
- Overall Median T-O-X was ZERO in April 2016, the same compared to March 2016;
- Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in April 2016 were NEGATIVE $2,000, POSITIVE $1,000, NEGATIVE $3,000 and POSITIVE $6,000 respectively.
4. Queenstown posts the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in April 2016, Queenstown reported the highest median TOX of POSITIVE $11,000 followed by POSITIVE $8,000 in Tampines.
This means that majority of the buyers in these towns have purchased units above the computer-generated market value.
- Among relatively active towns, Clementi posts the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in April 2016, the lowest median T-O-X was in Clementi at NEGATIVE $10,000, followed by Pasir Ris 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