Private Resale Non-Landed Prices Increase 0.5% in April; Volume Increases 17.6%, highest monthly volume in 3 years. | Singapore Property News

Private Resale Non-Landed Prices Increase 0.5% in April; Volume Increases 17.6%, highest monthly volume in 3 years.

10 May 2016
Property Data
1. Non-landed Private Residential Resale Prices increase in April 2016. Non-landed Private Residential Resale prices increased by 0.5% in April 2016 compared to March 2016.  In individual sectors, CCR and RCR recorded a price increase of 0.7% and 1.3%, respectively. On the other hand, OCR posted a 0.2% decrease in price.

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According to the SRX Non-landed Private Residential Price Index:

  • Year-on-year, prices in April 2016 dropped by 0.5% from April 2015. In individual sectors, CCR and RCR posted a year-on-year price increase of 3.2% and 0.9%, respectively, while OCR recorded a year-on-year price decrease of 2.9%.
  • April 2016 prices were down by 7.1% from the recent peak in January 2014.
  • Price change in March 2016 was revised from 0.3% increase to 0.1% increase.

2. Resale volume increases by 17.6% in April 2016. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 689 Non-landed Private Residential units were resold in April 2016. This is a 17.6% increase compared to 586 units resold in March 2016. This also presents a 3 year record since the last high of 726 units in May 2013.

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  • Year-on-year, resale volume in April 2016 was 28.1% higher compared to 538 units resold in April 2015;
  • Resale volume was down by 66.4% compared to its peak of 2,050 units resold in April 2010.

 3. Overall median Transaction Over X-Value (TOX) increases in April 2016. 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.

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  • The median T-O-X in April 2016 is NEGATIVE $9,000. This is a $1,000 increase compared to NEGATIVE $10,000 in March 2016.

4. District 20 posts highest median T-O-X. For districts with more than 10 resale transactions in April 2016, District 20 (Bishan, Ang Mo Kio) posted the highest median T-O-X at POSITIVE $24,000.

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This means that a majority of the buyers in this district purchased units above the computer-generated market value.

5. Among relatively active districts, District 22 posts the most negative median T-O-X. District 22 (Jurong) posted a T-O-X of NEGATIVE $25,000.

This means that a majority of the buyers in these districts purchased units below the computer-generated market value.

 

Source: SRX
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