Tag Archives: resale prices

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.

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.

TOX IMPROVES, BUT REMAINS NEGATIVE

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.

RENTAL VOLUME, PRICES DOWN

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.