1. Non-landed Private Residential Resale Prices increased 1.2% in May 2018. Non-landed Private Residential Resale prices increased 1.2% in May 2018 compared to April 2018. In individual sectors, CCR and OCR recorded a price increase of 1.3% and 1.8% respectively, while RCR prices remained unchanged at 0.0%.
According to the SRX Non-Landed Private Residential Price Index:
Year-on-year, prices in May 2018 increased by 10.8% from May 2017. In individual sectors, CCR, RCR and OCR recorded a year-on-year price increase of 11.2%, 11.4% and 9.9% respectively.
May 2018 prices were up by 1.2% from the peak last month, April 2018.
Price change was revised from 0.6% to 1.2% in April 2018.
Overall price index continues to increase, CCR prices set new high in May 2018.
2. Resale volume decreases by 0.6%. According to Non-Landed Private Residential Resale data compiled by SRX Property, an estimated 1,560 Non-landed Private Residential resale units were resold in May 2018. This is a 0.6% decrease compared to 1,570 units resold in April 2018.
Year-on-year, resale volume in May 2018 was 25.5% higher compared to 1,243 units resold in May 2017;
Resale volume was down by 23.9 % compared to its peak of 2,050 units resold in April 2010.
3. Overall median Transaction Over X-Value (TOX) is POSITIVE $18,000 in May 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.
The median T-O-X for May 2018 is POSITIVE $18,000. It is a decrease of $2,000 comparing to POSITIVE $20,000 T-O-X for April 2018.
4. District 9 posts highest median T-O-X. District 9 posts highest median T-O-X. For districts with more than 10 resale transactions in May 2018, District 9 (Orchard, Cairnhill, River Valley) posted the highest median T-O-X at POSITIVE $80,000.
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 25 posts the most negative median T-O-X. District 25 (Kranji, Woodgrove) posted a T-O-X of NEGATIVE $7,000.
This suggests that a majority of the buyers in that district purchased units below the computer-generated market value.