Private home resale prices down slightly in September: SRX

Resale prices of non-landed private homes dipped marginally in September by 0.3 per cent month-on-month, according to flash estimates from SRX Property on Tuesday (Oct 14).

When compared with September 2013, resale prices of non-landed private homes have dropped 4.6 per cent. Compared with the recent peak in January 2014, prices have declined 5.6 per cent, SRX said.

Resale prices of private homes in the Outside of Central Region dropped the most last month, falling 2.1 per cent compared with August. In comparison, prices in the Core Central Region and Rest of Central Region rose by 0.9 per cent and 2.9 per cent, respectively.

Resale volume rose sharply, with an estimated 468 non-landed private homes resold in September, up 15.3 per cent from the 406 transacted units in August.


The overall median Transaction Over X-value (TOX), which measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value, remained at -S$2,000 last month, up from -S$10,000 in August.

For districts with more than 10 resale transactions, districts 10, 15 and 16 saw a positive median TOX, with district 15 posting the highest median TOX of S$65,000, followed by district 16 with S$18,000 and district 10 with S$10,000.

Conversely, district 9, 11 and 12 had the lowest median TOX with -S$37,000, -S$35,000 and -S$23,000, respectively.


As for rental transactions, the number of non-landed private homes rented out last month was 3,171 – a 14 per cent decline from August. Year-on-year, rental volume improved by 8.7 per cent from the 2,916 units rented in September 2013.

However, rental prices continued declining, slipping 0.2 per cent from the previous month – the eighth consecutive month of decline.

The decline was greatest in the Outside of Central Region at 0.9 per cent and the Rest of Central Region at 0.6 per cent. Units in the Core Central Region saw a rent increase of 0.3 per cent, SRX said.

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