Dec 09, 2015

    Non-landed private home resale prices up 0.6% in Nov

    NON-LANDED private residential resale prices increased by 0.6 per cent last month compared with the month before, SRX Property said yesterday.

    The core central region and the rest of the central region recorded price increases of 3 per cent and 1.3 per cent respectively, while homes outside the central region posted a price decrease of 0.8 per cent.

    According to the SRX non-landed private residential price index, prices in November fell 1.3 per cent from the same period a year ago and were down 7 per cent from their peak in January last year.

    There is no revision to the October 2015 price index.

    An estimated 488 non-landed private homes were resold last month, down 2.8 per cent from the month before.

    Resale volume last month was 31.2 per cent higher compared with 372 units resold in the same month last year, but 76.2 lower than the peak of 2,050 units resold in April 2010.

    Overall median Transaction Over X-Value (TOX) increased last month to zero.

    This measures whether people are overpaying or underpaying based on the estimated market value of the property.

    For districts with more than 10 resale transactions last month, District 16 - Bedok and Upper East Coast - posted the highest median TOX at $35,000. This means that a majority of the buyers in this district purchased units above the computer-generated market value.

    Among relatively active districts, District 9 - Orchard, Cairnhill and River Valley - posted a TOX of negative $70,000. This means that a majority of the buyers in these districts purchased units below the computer-generated market value.