Private Resale Non-Landed Prices Decrease 0.8% in August; Volume Increases 5.3% | Singapore Property News

Private Resale Non-Landed Prices Decrease 0.8% in August; Volume Increases 5.3%

13 Sep 2016
Property Data
1. Non-landed Private Residential Resale Prices decrease by 0.8% in August 2016. Non-landed Private Residential Resale prices decreased by 0.8% in August 2016 compared to July 2016. In individual sectors, RCR and OCR recorded a price decrease of 1.5% and 0.7% respectively. On the other hand, CCR recorded a price increase of 0.1%.

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

 

∙         Year-on-year, prices in August 2016 decreased by 0.8% from August 2015. In individual sectors, RCR and OCR recorded a year-on-year price decrease of 2.9% and 1.9% respectively. On the other hand, CCR posted a year-on-year price increase of 4.6%.

 

∙         August 2016 prices were down by 7.8% from the recent peak in January 2014.


2. Resale volume increases by 5.3%. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 817 Non-landed Private Residential units were resold in August 2016. This is a 5.3% increase compared to 776 units resold in July 2016.


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∙         Year-on-year, resale volume in August 2016 was 59.3% higher compared to 513 units resold in August 2015;

 

∙         Resale volume was down by 60.1% compared to its peak of 2,050 units resold in April 2010.



3. Overall median Transaction Over X-Value (TOX) decreases. 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 August 2016 is NEGATIVE $11,000. This is a $1,000 decrease compared to NEGATIVE $10,000 in July 2016.

 
4. District 20 posts highest median T-O-X. For districts with more than 10 resale transactions in August 2016, District 20 (Bishan, Ang Mo Kio) posted the highest median T-O-X at POSITIVE $18,000.

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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 15 posts the most negative median T-O-X. District 15 (Katong, Joo Chiat, Amber Road) posted a T-O-X of NEGATIVE $48,000.

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

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