Resale private home prices in Core Central Region (CCR) and the city-fringe have been more resilient this year

Based on the November flash estimates released by SRX Property on the preceding week, its price index for resale non-landed private homes in CCR rose 1.6 %from December 2014 to November 2015. Over the same period, the index for Rest of Central Region (RCR) appreciated 2.3 %. However, the index for Outside Central Region (OCR) slipped 2.6 %  over the same period.

The relatively better performance in the CCR and RCR so far this year has to be seen against the fact that these two regions suffered bigger price drops last year than the OCR.

 Prices in OCR may be under greater pressure going ahead as 55 % of the 22,351 private homes slated for completion next year will be located in the suburbs.

Year on year, resale volume in November 2015 was 31.2 % more than the 372 units resold in November 2014. However, compared to the peak volume of 2,050 units in April 2010, the latest figure is down 76.2 %.

SRX Property said the overall median transaction over X-value (TOX) was zero in November after posting negative S$3,000 in October 2015. Among districts that posted at least 10 resale deals last month, prime District 9, which includes places such as Orchard, Cairnhill and River Valley, posted the worst median TOX, to the tune of negative S$70,000.

District 15  posted a median TOX of negative S$25,000, while District 16 had the highest median TOX, of positive S$35,000.

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