HDB resale prices flat in October; transactions up 16%: SRX

PRICES of Housing & Development Board (HDB) resale flats on the whole were flat in October compared to September, according to SRX Property's latest flash estimates.

Resale prices of three-room and executive flats rose 0.7 per cent and 0.9 per cent respectively month on month in October; however, resale prices of four and five-room flats eased 0.8 per cent and 0.1 per cent respectively over the same period.

The flat month-on-month performance in SRX Property's overall price index for resale HDB flats in October 2015 follows a drop of 0.4 per cent in September.

SRX Property said the index has depreciated 2.6 per cent year on year from October 2014. From its peak in April 2013, the index is down 11.7 per cent.

The number of resale HDB flats sold rose 16 per cent to 1,745 in October from 1,504 in September. This is the highest monthly volume so far this year, noted SRX Property. Year-on-year, the resale volume improved 12.4 per cent from the 1,553 units resold in October 2014. However, the latest resale volume is down by 52.2 per cent from its peak of 3,649 units in May 2010.

The overall median transaction over X-value (TOX) reversed from negative S$1,000 in September this year to positive S$1,000 in October.

The median TOX measures how much people are overpaying or underpaying against the computer-generated estimated value or the so-called X-value.