Private Resale Non-Landed Prices Increase 0.9% in February, marking 4th consecutive monthly increase; Volume Increases 31.2%

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

∙         Year-on-year, prices in February 2017 increased by 1.8% from February 2016. In individual sectors, CCR, RCR and OCR recorded a year-on-year price increase of 4.8%, 0.7%, 0.7% respectively.

∙         February 2017 prices were down by 6.0% from the recent peak in January 2014.

∙         Price change in January 2017 was revised from 1.1% to 1.0%. 

2. Resale volume increases by 31.2%. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 694 Non-landed Private Residential units were resold in February 2017. This is a 31.2% increase compared to 529 units resold in January 2017.

∙         Year-on-year, resale volume in February 2017 was 77.9% higher compared to 390 units resold in February 2016;

∙         Resale volume was down by 66.1% compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) decreases in February 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.

∙         The median T-O-X in February 2017 is NEGATIVE $10,000, This is a $6,000 decrease compared to NEGATIVE $4,000 in January 2017.

4. District 18 posts highest median T-O-X. For districts with more than 10 resale transactions in February 2017, District 18 (Tampines, Pasir Ris) posted the highest median T-O-X at POSITIVE $9,000.

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.