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SRX Research

HDB Resale Prices decrease 0.3% m-o-m in Jan 2017; Volume decreases by 13.9%

Posted on 09 Feb 2017

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Compared to the same month last year, prices inch down 0.1% in Jan.

1. HDB resale prices decrease in January 2017. There was a decrease of 0.3% in HDB Resale prices in January 2017 compared to that of December 2016. The resale prices of HDB 3 Rooms, HDB 4 Rooms decreased by 0.6% and 0.5% respectively, while HDB 5 Rooms and HDB Executive increased by 0.4% and 0.9% respectively.
HDB Price Index
SPI by Property Type
Median Resale Price

According to the SRX Property Price Index for HDB Resale:

  • Year-on-year, prices have decreased by 0.1% from January 2016;
  • Prices have declined 11.2% since the peak in April 2013;
Mature and Non Mature Estates

Mature and Non Mature Estates 2

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

  • In January 2017, HDB resale prices in mature estates decreased by 0.7%, while non-mature estates remained the same;
  • Year-on-year, prices in mature estates have increased by 0.7% from January 2016;
  • Year-on-year, prices in non-mature estates have decreased by 0.8% from January 2016;

2. Resale volume decreases in January 2017
According to HDB resale data compiled by SRX Property, 1,174 HDB resale flats were sold in January 2017, a 13.9% decrease from 1,364 transacted units in December 2016.
HDB Resale Volume
  • Year-on-year, resale volume decreased by 8.9% compared to 1,289 units resold in January 2016.
  • Resale volume was down by 67.8% compared to its peak of 3,649 units in May 2010.

3. Overall median Transaction Over X-Value (T-O-X) is NEGATIVE $3000 in January 2017.
 According to SRX Property, the median T-O-X for HDB was NEGATIVE $3000 in January 2017. The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.
HDB Resale Median TOX
  • Overall Median T-O-X was NEGATIVE $3000 in January 2017, decreased by $3,000 compared to the figure in December 2016;
  • Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in January 2017 were NEGATIVE $3,000, NEGATIVE $4,000, $2,400 and NEGATIVE $10,500 respectively.

4. Geylang posts the highest median T-O-X
For HDB towns having more than 10 resale transactions with T-O-X in January 2017, Geylang reported the highest median TOX of POSITIVE $5,500 followed by POSITIVE $4,000 in Tampines.

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

5. Among relatively active towns, Punggol posts the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in January 2017, the lowest median T-O-X was in Punggol at NEGATIVE $8,500, followed by Yishun and Toa Payoh at NEGATIVE $8,000.

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