Private Resale Non-Landed Prices inch up 0.1% in September; Volume Decreases by 10.9%

 Non-landed Private Residential Resale prices increased 0.1% in September 2017 compared to August 2017. In individual sectors, both CCR and OCR recorded a price decrease of 0.1% and 0.5% respectively, while RCR recorded an increase of 1.1%.

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

• Year-on-year, prices in September 2017 increased by 4.3% from September 2016. In individual sectors, CCR, RCR and OCR recorded a year-on-year price increase of 4.6%, 7.0% and 2.3% respectively.
• September 2017 prices were down by 4.1% from the peak in January 2014.
• Year-to-date, prices have increased by 3.2% in comparison to January 2017.
• Price change in August 2017 was revised from 0.7% to 0.9%.

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• Year-on-year, resale volume in September 2017 was 64.8% higher compared to 705 units resold in September 2016;
• Resale volume was down by 43.3 % compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) is POSITIVE $5,000 in September 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 September 2017 is POSITIVE $5,000. This is a $5,000 increase comparing to ZERO T-O-X in August 2017.

For districts with more than 10 resale transactions in September 2017, District 3 (Alexandra / Commonwealth) posted the highest median T-O-X at POSITIVE $38,000.

This means that a majority of the buyers in those districts purchased units above the computer-generated market value.

5. Among relatively active districts, District 4 posts the most negative median T-O-X. District 4 (Harbourfront / Telok Blangah) posted a T-O-X of NEGATIVE $104,000.