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SRX Research

A. Non-Landed Private Residential Rental Market

1. Private rents decrease by 0.4% in August. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.4% in August 2017 compared to July 2017. Non-Landed Private Residential units rents in CCR and OCR decreased by 0.7% and 1.1% respectively, while those in RCR increased by 0.7%.

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According to SRX Property Price Index for Non-landed Private Rentals:

  •  Year-on-year, rents in August 2017 were down by 2.5% from August 2016. In individual sectors, CCR, RCR and OCR posted 3.5%, 2.3% and 2.1% year-on-year decrease in price, respectively.
  •  Rents in August 2017 were 19.2% down compared to its peak in January 2013.
  •  Price index is down 0.4% on year-to-date basis from January 2017.
  •  Price change remained unchanged at 0.2% in July 2017.

2. Rental volume decreases by 10.4%. According to SRX Property, an estimated 4,271 Non-landed Private Residential units were rented in August 2017. This represented an 10.4% decrease from 4,766 units rented in July 2017.

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  •  Year-on-year, rental volume in August 2017 was 5.6% lower than 4,524 units rented in August 2016.

B. HDB Rental Market

1. HDB rents remain unchanged.
 According to SRX Property Price Index for HDB Rentals, rents remain unchanged from July 2017 to August 2017. HDB 3 Rooms and HDB 4 Rooms decreased by 0.1% and 0.5% respectively, while HDB 5 Rooms increased by 0.9%. HDB Executives remained unchanged.

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According to SRX Property Price Index for HDB Rentals:

  •  Year-on-year, rents in August 2017 were down by 3.8% from August 2016.
  •  Rents in August 2017 were down 13.8% compared to its peak in August 2013.
  •  Year-to-date, rental price index has declined by 1.3% from January 2017.
  •  Price change was revised from -0.1% to -0.3% in July 2017. 


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According to SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:

  •  Rents in Mature Estate decreased by 0.2%, while that in Non-mature Estates increased by 0.2%.
  •  Year-on-year, rents of Mature Estates in August 2017 slipped 3.7% from August 2016.
  •  Year-on-year, rents of Non-mature Estates in August 2017 dropped 3.8% from August 2016.

2. HDB rental volume decreases by 6.4%. According to SRX Property, an estimated 1,658 HDB flats were rented in August 2017.  This represented an 6.4% decrease from 1,772 units rented in July 2017.

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  •  Year-on-year, rental volume in August 2017 decreased by 7.5% from August 2016.

Note: Prices and volume exclude enbloc transactions from Serangoon Ville

1. Non-landed Private Residential Resale Prices increased 0.7% in August 2017.  Non-landed Private Residential Resale prices increased 0.7% in August 2017 compared to July 2017. In individual sectors, both CCR and OCR recorded a price increase of 0.2% and 1.6% respectively, while RCR price index has remained unchanged.

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According to the SRX Non-Landed Private Residential Price Index:
  • Year-on-year, prices in August 2017 increased by 3.2% from August 2016. In individual sectors, CCR, RCR and OCR recorded a year-on-year price increase of 4.9%, 5.0% and 1.1% respectively.
  • August 2017 prices were down by 4.3% from the peak in January 2014. 
  • Year-to-date, prices increase by 3.0% in comparison to January 2017.
  • Price change in July 2017 was revised from -0.5% to -0.3%.

2. Resale volume increases by 19.2%. According to Non-Landed Private Residential Resale data compiled by SRX Property, an estimated 1,273 Non-landed Private Residential units were resold in August 2017. This is a 19.2% increase compared to 1,068 units resold in July 2017.

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  • Year-on-year, resale volume in August 2017 was 50.8% higher compared to 844 units resold in August 2016; 
  • Resale volume was down by 37.9 % compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) is ZERO in August 2017. 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 2017 is ZERO. This indicates that there was no change comparing to ZERO T-O-X in July 2017.

4. District 1 and District 3 post highest median T-O-X. For districts with more than 10 resale transactions in August 2017, District 1 (Boat Quay / Raffles Place / Marina) and  District 3 (Alexandra / Commonwealth) posted the highest median T-O-X at POSITIVE $20,000.

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

 

5. Among relatively active districts, District 20 posts the most negative median T-O-X. District 20 (Ang Mo Kio / Bishan / Thomson) posted a T-O-X of NEGATIVE $20,000.

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

 

 

 

HDB Resale Prices inch up 0.1%; Volume increases by 9.6%.

Posted on 07 Sep 2017

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1. HDB resale prices inch up in August 2017. There was an increase of 0.1% in HDB Resale prices in August 2017 compared to that of July 2017. The resale prices of HDB 4 Rooms, HDB 5 Rooms and HDB Executive increased by 0.4%, 0.2% and 0.4% respectively, while HDB 3 Rooms decreased by 0.4%.

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According to the SRX Property Price Index for HDB Resale:

  • Year-on-year, prices have decreased by 0.7% from August 2016;
  • Prices have declined by 12.1% since the peak in April 2013;
  • There was no revision to the -0.6% price change in July 2017.
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According to the SRX Property Price Sub-Indices for HDB Resale:

  • In August 2017, HDB resale prices in mature estates remained unchanged and non-mature estates increased by 0.3 %;
  • Year-on-year, prices in mature estates have decreased by 0.2% from August 2016;
  • Year-on-year, prices in non-mature estates have decreased by 1.1% from August 2016;

 

2. Resale volume increases in August 2017. According to HDB resale data compiled by SRX Property, 1,957 HDB resale flats were sold in August 2017, a 9.6% increase from 1,785 transacted units in July 2017.

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  • Year-on-year, resale volume increased by 3.0% compared to 1,900 units resold in August 2016.
  • Resale volume was down by 46.4% compared to its peak of 3,649 units in May 2010.

3. Overall median Transaction Over X-Value (T-O-X) is ZERO in August 2017. According to SRX Property, the median T-O-X for HDB was ZERO in August 2017. The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

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  • Overall Median T-O-X was ZERO in August 2017, increased by $1,100 compared to the figure in July 2017;
  • Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in August 2017 were NEGATIVE $2,000, ZERO, POSITIVE $1000 and POSITIVE $3,000 respectively.

4. Serangoon posts the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in August 2017, Serangoon reported the highest median TOX of POSITIVE $11,000 followed by POSITIVE $6,000 in Bukit Panjang.

This means that majority of the buyers in these towns have purchased units above the computer-generated market value.

 

5. Among relatively active towns, Hougang posts the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in August 2017, the lowest median T-O-X was in Hougang at NEGATIVE $7,000, followed by Pasir Ris at NEGATIVE $6,000.

This means that majority of the buyers in these towns have purchased units below the computer generated market value.
A. Non-Landed Private Residential Rental Market

1. Private rents increase by 0.2% in July. 
According to SRX Property Price Index for Non-landed Private Residential Rentals, rents increased by 0.2% in July 2017 compared to June 2017. Non-Landed Private Residential units rents in CCR and OCR increased by 0.3% and 0.4% respectively, while that in RCR decreased by 0.1%.

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According to SRX Property Price Index for Non-landed Private Rentals:
  • Year-on-year, rents in July 2017 were down by 2.7% from July 2016. In individual sectors, CCR, RCR and OCR posted 1.9%, 3.8% and 2.5% year-on-year decrease in price, respectively.
  •  Rents in July 2017 were 18.9% down compared to its peak in January 2013.
  •  Price index is down 0.1% on year-to-date basis from January 2017.
  •  Price change was revised from 0.5% to 0.6% in June 2017.

2. Rental volume increases by 11.8%.
 
According to SRX Property, an estimated 4,834 Non-landed Private Residential units were rented in July 2017. This represented an 11.8% increase from 4,322 units rented in June 2017.

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  •  Year-on-year, rental volume in July 2017 was 4.5% higher than 4,626 units rented in July 2016.

B. HDB Rental Market

1. HDB rents decrease by 0.1%. According to SRX Property Price Index for HDB Rentals, rents decreased by 0.1% from June 2017 to July 2017. HDB 3 Rooms increased by 0.7%, while HDB 4 rooms, 5 rooms and Executive decreased by 0.7%, 0.5% and 0.6% respectively.

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According to SRX Property Price Index for HDB Rentals:

  •  Year-on-year, rents in July 2017 were down by 4.2% from July 2016.
  •  Rents in July 2017 were down 13.6% compared to its peak in August 2013.
  •  Year-to-date, rental price index has declined by 1.1% from January 2017.
  •  Price change was revised from -0.6% to -0.8% in June 2017. 

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According to SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:

  •  Rents in Mature Estate decreased by 0.2%, while that in Non-mature Estates increased by 0.1%.
  •  Year-on-year, rents of Mature Estates in July 2017 slipped 4.1% from July 2016.
  •  Year-on-year, rents of Non-mature Estates in July 2017 dropped 4.4% from July 2016.


2. HDB rental volume increases by 6.7%.
 According to SRX Property, an estimated 1,835 HDB flats were rented in July 2017.  This represented an 6.7% increase from 1,720 units rented in June 2017.

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  •  Year-on-year, rental volume in July 2017 increased by 1.2% from July 2016.
1. Non-landed Private Residential Resale Prices decreased 0.5% in July 2017. Non-landed Private Residential Resale prices decreased 0.5% in July 2017 compared to June 2017. In individual sectors, both CCR and RCR recorded a price increase of 0.6% and 0.4% respectively, while OCR price index has decreased by 1.9%.

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

  •  Year-on-year, prices in July 2017 increased by 2.0% from July 2016. In individual sectors, CCR and RCR recorded a year-on-year price increase of 4.8% and 4.4%, while OCR decreased by 1.3% respectively.
  •  July 2017 prices were down by 5.0% from the peak in January 2014.
  •  Year-to-date, prices increase by 2.2% in comparison to January 2017.
  •  Price change in June 2017 was revised from 0.9% to 0.7%.


2. Resale volume decreases by 9.7%. According to Non-Landed Private Residential Resale data compiled by SRX Property, an estimated 952 Non-landed Private Residential units were resold in July 2017. This is a 9.7% decrease compared to 1,054 units resold in June 2017.

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  •  Year-on-year, resale volume in July 2017 was 20.1% higher compared to 793 units resold in July 2016;
  •  Resale volume was down by 53.6 % compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) is ZERO in July 2017. 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 July 2017 is ZERO. This is a $1,000 decrease compared to $1,000 in June 2017.

 
4. District 20 posts highest median T-O-X. For districts with more than 10 resale transactions in July 2017, District 20 (Ang Mo Kio / Bishan / Thomson) posted the highest median T-O-X at POSITIVE $60,000.

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

 

 5. Among relatively active districts, District 26 posts the most negative median T-O-X. District 26 (Mandai / Upper Thomson) posted a T-O-X of NEGATIVE $27,000.

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

 

 

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