1. RCR, OCR & CCR prices decrease by 1.1%, 0.3% and 0.1%, respectively
According to the SRX Price Index for Non-Landed Private Residential Resale:
- Month-on-month, overall prices decrease by 0.5% over June 2019.
- Year-on-year, overall prices increase by 0.1% over July 2018, which was the month when the latest cooling measures were introduced.
- CCR and RCR record year-on-year price decreases of 2.4% and 0.9%, respectively, while OCR record year-on-year price increase of 1.8%.
- Price changes for CCR, RCR and OCR in June are revised to -1.1%, 0.3% and -0.5%, from -0.7%, 0.0% and -0.4%, respectively. Overall price change remains at -0.4%.
- Volumes were 19.8% lower than in July 2018, which saw unusually high activity ahead of the introduction of cooling measures.
- However, July 2019’s volumes were 11.1% higher than the 5-year average volume for the month of July.
3. The highest transacted price for a resale unit in the month was achieved at Boulevard Vue, where a high-floor unit was transacted at $17.5 million.
- In RCR, the highest transacted price was a unit at Dakota Residences resold at $4.2 million.
- In OCR, the highest transacted price was a unit at Bayshore Park resold at $3.3 million.
4. Overall Transaction Over X-Value (T-O-X) is NEGATIVE $10,000 in July 2019. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX X-Value estimated market value. TOX decreases $20,000 as compared to POSITIVE $10,000 T-O-X for June 2019.
- District 7 (Beach Road, Bugis, Rochor) posted the highest median T-O-X at POSITIVE $26,000, followed by District 13 (MacPherson, Potong Pasir) at POSITIVE $22,000.
- District 5 (Buona Vista, West Coast, Clementi) posted the lowest median T-O-X at NEGATIVE $35,000, followed by District 22 (Boon Lay, Jurong, Tuas) at NEGATIVE $33,000.
- T-O-X data only include districts with more than 10 resale transactions with X-Value.