Sep 09, 2016

    HDB resale deals up in Aug as prices dip

    HOUSING Board resale transactions in August rose 19.5 per cent to about 1,879 flats, compared to a month ago, as prices slipped 0.7 per cent, according to estimates by SRX Property.

    The price dip reversed a 0.7 per cent month-on-month increase in HDB resale prices in July in a continued streak of monthly fluctuations seen this year.

    R'ST Research director Ong Kah Seng noted that the month-on-month price rebound in July was unsustainable as overall public housing sentiment remained weak, although resale flat prices were stabilising.

    "August is a correction of prices to a long-established stability - any monthly increase is usually followed by a decrease in (the) subsequent month, and vice versa," Mr Ong observed.

    From a year ago, resale volumes were 29.9 per cent higher while resale prices were still 0.2 per cent below from August 2015's level.

    Compared to respective peaks, resale volumes were still 48.5 per cent below the peak of May 2010, while resale prices were 11.5 per cent down from the peak in April 2013.

    Some 99 per cent of transactions are captured by the time the HDB resale flash report is published - the most comprehensive among SRX's flash reports.

    This is based on SRX's study of monthly averages for the past one year.

    About 82 per cent of monthly transactions are captured by the time the flash report for private non-landed resale prices is released.

    Flash reports on rentals by SRX Property typically capture around 80 per cent of the month's transactions on average at the time of the report's publication.