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HDB resale transactions down in Sept m-o-m but prices up 0.1%: SRX

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The volume of HDB resale transactions in September 2016 contracted 11.3 per cent to 1,666 resale flats from 1,879 flats in the preceding month, according to data compiled by SRX Property.

THE volume of HDB resale transactions in September 2016 contracted 11.3 per cent to 1,666 resale flats from 1,879 flats in the preceding month, according to data compiled by SRX Property.

Year on year, however, the figure was up 10.8 per cent from the 1,504 flats resold in September 2015.

SRX Property's HDB resale flat price index inched up 0.1 per cent month on month in September 2016, according to its flash estimates released on Thursday. This contrasts with a 0.7 per cent month-on-month fall in August 2016.

On the month-on-month resale price performance among the various flat types in September 2016, SRX Property said that prices of three-room and executive flats retreated 1.4 per cent and 0.4 per cent, respectively. However, the resale prices of four-room and five-room flats climbed 0.8 per cent and 1.2 per cent, respectively.

On a year-on-year basis, SRX's overall resale price index for HDB flats is down 0.4 per cent from September 2015. From the peak in April 2013, the index has eased 11.4 per cent.

SRX Property said its subindex for flats in mature areas dipped 0.2 per cent month on month in September 2016, while in non-mature areas, prices appreciated 0.4 per cent over the same period.

Year-on-year, however, prices have advanced 0.4 per cent in mature estates but retreated one per cent in non-mature estates.

SRX Property said that last month's transaction volume of 1,666 HDB resale flats was down 54.3 per cent from the May 2010 peak of 3,649 flats.

The overall median transaction over X-Value (TOX) swung to positive S$2,000 in September 2016 from negative S$1,000 in August 2016. The median TOX measures how much people are overpaying or underpaying against the computer-generated estimated market value or the so-called X value.