According to the SRX Non-Landed Private Residential Price Index:
∙ Year-on-year, prices in September 2016 decreased by 1.5% from September 2015. In individual sectors, RCR and OCR recorded a year-on-year price decrease of 3.5% and 2.6% respectively. On the other hand, CCR posted a year-on-year price increase of 3.5%.
∙ September 2016 prices were down by 8.5% from the recent peak in January 2014
2. Resale volume decreases by 17.7%. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 683 Non-landed Private Residential units were resold in September 2016. This is a 17.7% decrease compared to 830 units resold in August 2016.
∙ Year-on-year, resale volume in September 2016 was 45.9% higher compared to 468 units resold in September 2015;
∙ Resale volume was down by 66.7% compared to its peak of 2,050 units resold in April 2010.
3. Overall median Transaction Over X-Value (TOX) increases. 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.
∙ The median T-O-X in September 2016 is NEGATIVE $10,000. This is a $1,000 increase compared to NEGATIVE $11,000 in August 2016.
4. District 09 posts highest median T-O-X. For districts with more than 10 resale transactions in August 2016, District 09 (Orchard Road, River Valley, Cairnhill) posted the highest median T-O-X at POSITIVE $23,000.
This means that a majority of the buyers in this district purchased units above the computer-generated market value.
This means that a majority of the buyers in these districts purchased units below the computer-generated market value.