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Property Data08 Feb 2018

HDB Resale Prices drop by 0.5%; Volume slumps by 31.4 %

1. HDB resale prices decrease in January 2018. There was a decrease of 0.5% in HDB Resale prices in January 2018 compared to that of December 2017. The resale prices of HDB 4 Rooms and HDB Executive increased by 1.3% and 0.4% respectively, while HDB 3 Rooms and HDB 5 Rooms decreased by 2.3% and 1.2% respectively.

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According to the SRX Property Price Index for HDB Resale:
  • Year-on-year, prices have decreased by 2.0% from January 2017;
  • Prices have declined by 13.0% since the peak in April 2013;
  • There was no price change revision at 0.1% in December 2017.
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According to the SRX Property Price Sub-Indices for HDB Resale:

  • In January 2018, HDB resale prices in mature estates went down by 1.8% and non-mature estates increased by 0.5 %;
  • Year-on-year, prices in mature estates have decreased by 2.3% from January 2017;
  • Year-on-year, prices in non-mature estates have decreased by 1.8% from January 2017;

2. Resale volume decreases in January 2018. According to HDB resale data compiled by SRX Property, 1,089 HDB resale flats were sold in January 2018, a 31.4% decrease from 1,587 transacted units in December 2017.

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  • Year-on-year, resale volume has decreased by 8.7% compared to 1,193 units resold in January 2017.
  • Resale volume was down by 70.2% compared to its peak of 3,649 units in May 2010.

3. Overall median Transaction Over X-Value (T-O-X) is NEGATIVE $3,000 in Janury 2018. According to SRX Property, the median T-O-X for HDB was NEGATIVE $3,000 in January 2018. 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 $3,000 in January 2018, decreased by $100 compared to the figure in December 2017;
  • Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in January 2018 were NEGATIVE $5,000, NEGATIVE $2,000, NEGATIVE $3,500 and POSITIVE $2000 respectively.

4. Kallang/Whampoa and Geylang post the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in January 2018, Kallang/Whampoa and Geylang reported the highest median TOX of POSITIVE $17,000 followed by POSITIVE $4,300 in Sengkang.

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 January 2018, the lowest median T-O-X was in Jurong East at NEGATIVE $16,000, 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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