Resale prices for Private property up in Oct

http://www.channelnewsasia.com/news/singapore/private-home-resale/1465684.html

While prices have gone up, the number of resale transactions dipped by 2.2 per cent on-month in October with an estimated 451 units resold, according to flash estimates from SRX Property.

Resale prices of non-landed private homes climbed marginally in October by 0.4 per cent month-on-month, according to flash estimates from SRX Property on Tuesday (Nov 11).

When compared with October 2013, resale prices of non-landed private homes have dropped 4.5 per cent. Compared with the recent peak in January 2014, prices have declined 5.2 per cent, SRX said.

Resale prices of private homes in the Rest of Central Region and Outside of Central Region drove the climb, with both increasing 0.6 per cent. In contrast, prices in the Core Central Region dipped 0.3 per cent.

However, the number of resale transactions slipped by 2.2 per cent from September, with an estimated 451 units resold in October compared to the 461 transacted units from the previous month.

TOX REMAINS IN NEGATIVE RANGE

The overall median Transaction Over X-value (TOX), which measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value, dipped to -S$4,000 in October from -S$2,000 in September.

For districts with more than 10 resale transactions, districts 9, 10 and 25 saw a positive median TOX, with district 10 posting the highest median TOX of S$30,000, followed by district 9 with S$22,000 and district 25 with S$15,000.

Conversely, districts 14 had the lowest median TOX, posting -S$41,000, followed by district 12 with -S$40,000 and district 11 with -S$31,000.

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