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Property Data04 Jan 2018

HDB Resale Prices slightly increase by 0.1%; Volume is down by 19.9 %

1. HDB resale prices increase in December 2017. There was an increase of 0.1% in HDB Resale prices in December 2017 compared to that of November 2017. The resale prices of HDB 3 Rooms and HDB Executive increased by 0.2% and 1.5% respectively, while HDB 5 Rooms remained unchanged at 0.0% and HDB 4 Rooms decreased by 0.9%.

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According to the SRX Property Price Index for HDB Resale:

  • Year-on-year, prices have decreased by 1.8% from December 2016;
  • Prices have declined by 12.5% since the peak in April 2013;
  • There was no price change revision at -0.1% in November 2017.

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

  • In December 2017, HDB resale prices in mature estates went down by 0.3% and non-mature estates increased by 0.4 %;
  • Year-on-year, prices in mature estates have decreased by 1.2% from December 2016;
  • Year-on-year, prices in non-mature estates have decreased by 2.3% from December 2016;

2. Resale volume decreases in December 2017. According to HDB resale data compiled by SRX Property, 1,585 HDB resale flats were sold in December 2017, a 19.9% decrease from 1,980 transacted units in November 2017.

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  • Year-on-year, resale volume has increased by 13.9% compared to 1,391 units resold in December 2016.
  • Resale volume was down by 56.6% compared to its peak of 3,649 units in May 2010.

3. Overall median Transaction Over X-Value (T-O-X) is NEGATIVE $2,900 in December 2017. According to SRX Property, the median T-O-X for HDB was NEGATIVE $2,900 in December2017The 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 $2,900 in December 2017, decreased by $900 compared to the figure in November 2017;
  • Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in December 2017 were NEGATIVE $3,000, NEGATIVE $3,000, NEGATIVE $1,000 and POSITIVE $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 December 2017, Serangoon reported the highest median TOX of POSITIVE $4,500 followed by POSITIVE $3,500 in Bukit Panjang.

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

 

5. Among relatively active towns, Ang Mo Kio posts the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in December 2017, the lowest median T-O-X was in Ang Mo Kio at NEGATIVE $12,000, followed by Bukit Merah at NEGATIVE $9,000.

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

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