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Property Data07 Dec 2017

HDB Resale Prices inch down 0.1%; Volume up 11.2 %

1. HDB resale prices decrease in November 2017. There was a decrease of 0.1% in HDB Resale prices in November 2017 compared to that of October 2017. The resale prices of HDB 5 Rooms increased by 0.4%, while HDB 3 Rooms, HDB 4 Rooms and HDB Executive decreased by 0.3%, 0.1% and 0.1% respectively.

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According to the SRX Property Price Index for HDB Resale:

  • Year-on-year, prices have decreased by 2.3% from November 2016;
  • Prices have declined by 12.6% since the peak in April 2013;
  • Price change was revised from -0.3% to -0.2% in October 2017.
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According to the SRX Property Price Sub-Indices for HDB Resale:

  • In November 2017, HDB resale prices in mature estates went up by 0.3% and non-mature estates decreased by 0.4 %;
  • Year-on-year, prices in mature estates have decreased by 1.1% from November 2016;
  • Year-on-year, prices in non-mature estates have decreased by 3.2% from November 2016;

2. Resale volume increases in November 2017. According to HDB resale data compiled by SRX Property, 1,980 HDB resale flats were sold in November 2017, an 11.2% increase from 1,781 transacted units in October 2017.

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  • Year-on-year, resale volume has increased by 24.1% compared to 1,596 units resold in November 2016.
  • Resale volume was down by 45.7% 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 November 2017. According to SRX Property, the median T-O-X for HDB was NEGATIVE $2,000 in November 2017. The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

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  • Overall Median T-O-X was NEGATIVE $2,000 in November 2017, decreased by $1,000 compared to the figure in October 2017;
  • Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in November 2017 were NEGATIVE $1,000, NEGATIVE $3,000, ZERO and NEGATIVE $4,200 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 November 2017, Toa Payoh reported the highest median TOX of POSITIVE $7,000 followed by POSITIVE $6,000 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, Jurong East posts the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in November 2017, the lowest median T-O-X was in Jurong East at NEGATIVE $10,000, followed by Sembawang at NEGATIVE $9,500.

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

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