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SRX Research

Private Resale Non-Landed Prices Up 0.5% in June; Volume decreases 1.2%

Posted on 12 Jul 2016

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1. Non-landed Private Residential Resale Prices up by 0.5% in June 2016. Non-landed Private Residential Resale prices increased by 0.5% in June 2016 compared to May 2016. This marks the fourth consecutive monthly price increase.

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The price increase applies across the board. CCR, RCR and OCR recorded a price increase of 0.9%, 0.3% and 0.5%, respectively.

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

  • Year-on-year, prices in June 2016 increased by 1.1% from June 2015. In individual sectors, CCR posted a year-on-year price increase of 9.2%, while RCR and OCR recorded a year-on-year price decrease of 0.8% and 1.5%, respectively.
  • June 2016 prices were down by 5.9% from the recent peak in January 2014.
2. Resale volume decreases by 1.2% in June 2016. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 754 Non-landed Private Residential units were resold in June 2016. This is a 1.2% decrease compared to 763 units resold in May 2016.

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  • Year-on-year, resale volume in June 2016 was 27.4% higher compared to 592 units resold in June 2015;
  • Resale volume was down by 63.2% compared to its peak of 2,050 units resold in April 2010.
3. Overall median Transaction Over X-Value (TOX) increases in June 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 May 2016 is NEGATIVE $7,000. This is a $1,000 increase compared to NEGATIVE $8,000 in May 2016;
  • This increase in median T-O-X marks the third consecutive monthly improvement.
4. District 12 posts highest median T-O-X. For districts with more than 10 resale transactions in June 2016, District 12 (Serangoon, Toa Payoh, Balestier) posted the highest median T-O-X at POSITIVE $30,000.

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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 18 posts the most negative median T-O-X. District 18 (Simei, Tampines, Pasir Ris) posted a T-O-X of NEGATIVE $22,000.

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

(New!) 6. Median days-on-market (DOM) for non-landed private properties was 137 days in 2016Q2. Quarter-on-quarter, median DOM was 14.5 days shorter compared to 151.5 days in 2016Q1.

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DOM represents the number of days a property has been listed on the market before it is transacted.

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