HDB Resale Prices decrease by 0.3% in Sep; Volume decreases by 14.0 %.

1. HDB resale prices decrease in September 2017. There was a decrease of 0.3% in HDB Resale prices in September 2017 compared to that of August 2017. The resale prices of HDB 3 Rooms, HDB 4 Rooms and HDB Executive decreased by 0.5%, 0.6% and 1.5% respectively, while HDB 5 Rooms increased by 0.1%.

According to the SRX Property Price Index for HDB Resale:

• Year-on-year, prices have decreased by 1.8% from September 2016;
• Prices have declined by 12.3% since the peak in April 2013;
• The price change was revised to 0.2% from 0.1% in August 2017.

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

• In September 2017, HDB resale prices in mature estates have gone up by 0.8% and non-mature estates decreased by 1.0 %;
• Year-on-year, prices in mature estates have increased by 0.1% from September 2016;
• Year-on-year, prices in non-mature estates have decreased by 3.3% from September 2016;

2.Resale volume decreases in September 2017. According to HDB resale data compiled by SRX Property, 1,683 HDB resale flats were sold in September 2017, a 14.0% decrease from 1,957 transacted units in August 2017.

• Year-on-year, resale volume has remained almost unchanged compared to 1,684 units resold in September 2016.
• Resale volume was down by 53.9% compared to its peak of 3,649 units in May 2010.

3. Overall median Transaction Over X-Value (T-O-X) is NEGATIVE $2,000 in September 2017. According to SRX Property, the median T-O-X for HDB was NEGATIVE $2,000 in September 2017. 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 NEGATIVE $2,000 in September 2017, decreased by $2,000 compared to the figure in August 2017;
• Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in September 2017 were NEGATIVE $4,000, NEGATIVE $2,000, NEGATIVE $3,000 and POSITIVE $2,500 respectively.

4. Serangoon posts the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in September 2017, Serangoon reported the highest median TOX of POSITIVE $5,000 followed by POSITIVE $3,000 in Pasir Ris.

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

 

5. Among relatively active towns, Queenstown posts the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in September 2017, the lowest median T-O-X was in Queenstown at NEGATIVE $16,000, followed by Jurong East at NEGATIVE $9,000.

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