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HDB resale volumes up 10.3% in April as prices continue to slide

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Resale volumes of HDB flats rose in April as prices continued to moderate by 0.1 per cent from a month ago, figures from SRX Property on Thursday shows.

RESALE volumes of HDB flats rose in April as prices continued to moderate by 0.1 per cent from a month ago, figures from SRX Property on Thursday shows.

According to HDB resale data compiled by SRX Property, 1,828 HDB resale flats were sold in April, a 10.3 per cent increase from 1,657 transacted units in March, and 13.5 per cent higher than a year ago.

"The volume represents a record high since the recent cooling measures of additional buyer's stamp duty and total debt servicing ratio were introduced in 2013," SRX Property said.

The 0.1 per cent moderation in SRX Property's flash estimate of HDB resale prices was mainly caused by five-room HDB flats whose resale prices slipped 0.9 per cent during April. Resale prices of HDB three-room and executive flats, however, rose 0.6 per cent and 0.1 per cent respectively during the month. Resale prices in mature estates inched up one per cent in April, while those in non-mature estates slipped one per cent.

On the whole, resale HDB prices have fallen 11.1 per cent from the peak in April 2013 and 0.2 per cent from a year ago. There was no revision on the resale price index by SRX Property in March that showed a 0.1 per cent slide. Resale volume in April was still half the level of the May 2010 peak.