According to flash estimates by SRX Property, 689 non-landed private homes were resold in April 2016 - up 17.6 per cent from the 586 units resold in March 2016. The latest figure is a three-year record since the last high of 726 units in May 2013.
This was 28.1 per cent higher compared with April last year, and the highest since 726 units were resold in May 2013. But resale volume was still far lower compared with earlier peaks. For example, 2,050 units were resold in April 2010.
Resale prices of non-landed private properties rose by 0.5 per cent last month. This was after they rose 0.1 per cent in March.
However, private non-landed resale prices are still 0.5 per cent lower compared with a year back.
In individual sectors, core central region prices rose 0.7 per cent month on month, rest of central region prices rose 1.3 per cent, and outside central region or suburban prices fell 0.2 per cent.
Price weakness in the suburbs was partly due to the large volume of supply in OCR. Sellers not only have to compete with other sellers, but with developers that have unsold inventory.
The Straits Times