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Property Data08 May 2018

Private Resale Non-Landed Prices Up 0.6% in April; Volume slides down by 1.7%

1. Non-landed Private Residential Resale Prices increased 0.6% in April 2018. Non-landed Private Residential Resale prices increased 0.6% in April 2018 compared to March 2018. In individual sectors, RCR and OCR recorded a price increase of 1.0% and 0.7% respectively, while CCR prices recorded a decrease of 0.3%.

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

  • Year-on-year, prices in April 2018 increased by 9.5% from April 2017. In individual sectors, CCR, RCR and OCR recorded a year-on-year price increase of 9.2%, 12.6% and 7.3% respectively.
  • April 2018 prices were up by 0.6% from the peak last month, March 2018.
  • Price change was revised from 1.5% to 1.4% in March 2018.
  • Overall price index continues to increase, RCR prices reach another new high in April 2018.

2. Resale volume decreases by 1.7%. According to Non-Landed Private Residential Resale data compiled by SRX Property, an estimated 1,360 Non-landed Private Residential resale units were resold in April 2018. This is a 1.7% decrease compared to 1,383 units resold in March 2018.

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  • Year-on-year, resale volume in April 2018 was 26.9% higher compared to 1,072 units resold in April 2017;

  • Resale volume was down by 33.7 % compared to its peak of 2,050 units resold in April 2010.


3. Overall median Transaction Over X-Value (TOX) is POSITIVE $20,000 in April 2018. 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.

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  • The median T-O-X for April 2018 is POSITIVE $20,000. It remains unchanged comparing to POSITIVE $20,000 T-O-X for March 2018.


4. District 11 posts highest median T-O-X. For districts with more than 10 resale transactions in April 2018, District 11 (Watten Estate, Novena, Thomson) posted the highest median T-O-X at POSITIVE $89,000.

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This suggests that a majority of the buyers in that district purchased units above the computer-generated market value.

 

5. Among relatively active districts, District 27 posts the most negative median T-O-X. District 27 (Yishun, Sembawang) posted a T-O-X of NEGATIVE $15,000.

This suggests that a majority of the buyers in that district purchased units below the computer-generated market value.



 

 

 

 

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