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Property Data07 Jun 2018

HDB Resale Prices increase by 0.5%; Volume slips down by 5.3%.

1. HDB resale prices increase in May 2018. There was an increase of 0.5% in HDB Resale prices in May 2018 compared to that of April 2018. The resale prices of HDB 4 Rooms, HDB 5 Rooms and HDB Executive increased by 0.1%, 0.5% and 1.5% respectively, while HDB 3 Rooms decreased by 0.1%.

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According to the SRX Property Price Index for HDB Resale:

  • Year-on-year, prices have decreased by 1.8% from May 2017;
  • Prices have declined by 13.1% since the peak in April 2013;
  • There was no price change revision at -0.8% in April 2018.

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According to the SRX Property Price Sub-Indices for HDB Resale:
  • In May 2018, HDB resale prices mature estates went up by 1.3%, while prices in non-mature estates were down 0.1%;
  • Year-on-year, prices in mature estates have decreased by 1.3% from May 2017;
  • Year-on-year, prices in non-mature estates have decreased by 2.2% from May 2017;

2. Resale volume decreases in May 2018. According to HDB resale data compiled by SRX Property, 1,753 HDB resale flats were sold in May 2018, a 5.3% decrease from 1,851 transacted units in April 2018.

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  • Year-on-year, resale volume has decreased by 11.7% compared to 1,985 units resold in May 2017.
  • Resale volume was down by 52.0% compared to its peak of 3,649 units in May 2010.

3. Overall median Transaction Over X-Value (T-O-X) was ZERO in May 2018. According to SRX Property, the median T-O-X for HDB was ZERO in May 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 ZERO in May 2018, an increase of $1,000 compared to the figure in April 2018;
  • Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in May 2018 were NEGATIVE $4,000, ZERO, POSITIVE $1,000 and POSITIVE $2,000 respectively.

4. Bishan and Tampines post the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in May 2018, Bishan and Tampines reported the highest median TOX of POSITIVE $12,000 followed by POSITIVE $6,000 in Sembawang.

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


5. Among relatively active towns, Hougang posts the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in May 2018, the lowest median T-O-X was in Hougang at NEGATIVE $11,500, followed by Serangoon at NEGATIVE $8,000.

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

 

 




 

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