HDB Resale Prices decrease by 0.3% in Dec; Volume decreases by 13.9%

Full year, prices declined 0.2% overall, led by Non-Mature Estates which declined 1.2%. In contrast, prices in mature estates increased 1.0% y-o-y.

1. HDB resale prices decrease in December 2016. There was a decrease of 0.3% in HDB Resale prices in December 2016 compared to that of November 2016. The resale prices of HDB 3 Rooms, HDB 4 Rooms, HDB 5 Rooms and HDB Executive decreased by 0.1%, 0.2%, 0.9% and 1.0% respectively.

According to the SRX Property Price Index for HDB Resale:

• Year-on-year, prices have decreased by 0.2% from December 2015;
• Prices have declined by 10.9% since the peak in April 2013;

 

According to the SRX Property Price Sub-Indices for HDB Resale:

• In December 2016, HDB resale prices in mature and non-mature estates decreased by 0.2% and 0.4% respectively;
• Year-on-year, prices in mature estates have increased by 1.0% from December 2015;
• Year-on-year, prices in non-mature estates have decreased by 1.2% from December 2015;

 

2. Resale volume decreases in December 2016. According to HDB resale data compiled by SRX Property, 1,364 HDB resale flats were sold in December 2016, a 13.9% decrease from 1,585 transacted units in November 2016.

• Year-on-year, resale volume decreased by 3.9% compared to 1,420 units resold in December 2015.
• Resale volume was down by 62.6% compared to its peak of 3,649 units in May 2010.

3. Overall median Transaction Over X-Value (T-O-X) is ZERO in December 2016. According to SRX Property, the median T-O-X for HDB was ZERO in December 2016. The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

• Overall Median T-O-X was ZERO in December 2016, increased by $2,000 compared to the figure in November 2016;
• Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in December 2016 were NEGATIVE $1,500, ZERO, NEGATIVE $1,000 and NEGATIVE $1,000 respectively.

4. Toa Payoh posts the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in December 2016, Toa Payoh reported the highest median TOX of POSITIVE $11,000 followed by POSITIVE $10,000 in Kallang/Whampoa.

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

5. Among relatively active towns, Pasir Ris posts the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in December 2016, the lowest median T-O-X was in Pasir Ris at NEGATIVE $12,000, followed by Jurong East at NEGATIVE $9,500.

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