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Property Data03 Oct 2019

Monthly and Quarterly HDB Resale Prices Decrease in September and Q3 respectively; Volumes Lower Month-on-Month

1. HDB resale prices decrease by 0.2% in September 2019 over August 2019HDB 3 Room prices fall by 0.6% while 4 Room, 5 Room and Executive prices increase by 0.5%, 0.5% and 0.3%, respectively. Mature Estates and Non-Mature Estates prices decrease by 0.3% and 0.1%, respectively, as compared to August 2019.

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According to the SRX Property Price Index for HDB Resale:

  • Prices in September 2019 are 0.1% higher from preceding year.
  • September 2019 prices are 14.1% lower than the peak in April 2013.
  • Year-on-Year, Non-Mature Estates price increases 0.9% while Mature Estates price decreases 1.2%.
  • Overall resale prices for 2019Q3 register a 0.1% decrease compared to 2019Q2, continuing the decreasing trend since the beginning of 2019.
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2. 1,875 HDB resale transactions in September 2019, representing a 4.9% decrease from August 2019.

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  • Year-on-year, resale volume in September 2019 is 6.3 % lower than the previous year.
  • Breaking down by room types, in September 2019, 39.6% of the volume comes from HDB 4 Room, 25.7% from 3 Room, 24.9% from 5 Room and 7.6% from Executive. The rest are from 1 Room and 2 Room.

 

3. The highest transacted price for a resale flat in the month was achieved at $1,040,000 by two units(1) A 4 Room unit at The Pinnacle @ Duxton , which is also the 9th HDB unit to have achieved more than $1,000 per square foot, so far this year; (2) A 34-year-old Executive Maisonette unit at Bishan.

  • In Non-Mature Estates, the highest transacted price was a 27-year-old Executive Maisonette unit at Hougang transacted at $835,000.

 

4. Overall median Transaction Over X-Value (T-O-X) is NEGATIVE $2,000 in September 2019. This represented a decrease of $1,000 as compared to August 2019. The median T-O-X for HDB measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX Property X-Value estimated market value.

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  • Only 5 Room witnesses POSITIVE median T-O-X $1,000 in September 2019, while HDB 3 Room, 4 Room and Executive record NEGATIVE median T-O-X $2,500, $1,000 and $6,000 respectively.
  • Bukit Panjang posts the highest median T-O-X at POSITIVE $8,000 in September 2019, followed by Toa Payoh at POSITIVE $4,000.
  • Ang Mo Kio posts the lowest median T-O-X at NEGATIVE $11,500, followed by Clementi at NEGATIVE $9,000.
  • T-O-X data only include HDB towns with more than 10 resale transactions with X-Value.

5.      An estimated 2,107 flats will become eligible to join the HDB resale market in the next three months, based on SRX data, as these units approach their respective 5-year Minimum Occupation Period.

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