Year-on-Year HDB Resale Prices decrease by 1.9% and Volume is up by 13.4%

1. HDB resale prices decrease in June 2018. There was a decrease of 0.3% in HDB Resale prices in June 2018 compared to that of May 2018. The resale prices of HDB 3 Rooms increased by 0.4%, while both HDB 4 Rooms and HDB Executive had a decrease of 0.4%, and HDB 5 Rooms remained unchanged at 0.0%.

According to the SRX Property Price Index for HDB Resale:

• Year-on-year, prices have decreased by 1.9% from June 2017;
• Prices have declined by 13.3% since the peak in April 2013;
• There was no price change revision at 0.5% in May 2018.

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

• In June 2018, HDB resale prices in both mature and non-mature estates were down by 0.2% and 0.4% respectively;
• Year-on-year, prices in mature estates have decreased by 2.2% from June 2017;
• Year-on-year, prices in non-mature estates have decreased by 1.7% from June 2017;

2. Resale volume increases in June 2018. According to HDB resale data compiled by SRX Property, 1,988 HDB resale flats were sold in June 2018, a 13.4% increase from 1,753 transacted units in May 2018.

• Year-on-year, resale volume has increased by 13.4% compared to 1,753 units resold in June 2017;
• Resale volume was down by 45.5% compared to its peak of 3,649 units in May 2010.

3. Overall median Transaction Over X-Value (T-O-X) was NEGATIVE $1,000 in June 2018. According to SRX Property, the median T-O-X for HDB was NEGATIVE $1,000 in June 2018. The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

• Overall Median T-O-X was NEGATIVE $1,000 in June 2018, decreased by $1,000 compared to the figure in May 2018;
• Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in June 2018 were NEGATIVE $3,000, ZERO, NEGATIVE $1,000 and POSITIVE $9,000 respectively.

4. Tampines posts the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in June 2018, Tampines reported the highest median TOX of POSITIVE $5,000 followed by POSITIVE $4,000 in Yishun.

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


5. Among relatively active towns, Bukit Panjang posts the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in June 2018, the lowest median T-O-X was in Bukit Panjang at NEGATIVE $7,000, followed by Geylang at NEGATIVE $6,200.

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