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Resale prices of non-landed private homes in CCR up 2.8% in Sept: SRX

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Resale prices of non-landed private homes in Singapore's Core Central Region rose 2.8 per cent in September over August.

RESALE prices of non-landed private homes in Singapore's Core Central Region rose 2.8 per cent in September over August, according to the latest flash estimate from SRX Property.

This contrasts with a 0.9 per cent month-on-month drop in August, based on the revised index values for that month.

However, prices fell last month in the city-fringe or Rest of Central Region as well as in the suburbs or the Outside Central Region to the tune of 1.4 per cent and 0.9 per cent, respectively.

SRX's overall resale price index for non-landed private homes dipped 0.1 per cent month-on-month in September. SRX revised the price change for August to a 0.1 per cent gain from a 0.2 per cent gain previously when it released the flash estimate for August.

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Compared to a year ago, the overall index eased 1.2 per cent in September 2015. From the recent peak in January 2014, the index has shed 6.7 per cent.

According to data compiled by SRX Property, the resale volume of non-landed private homes slipped 10.6 per cent to 446 units in September from 499 units in August.

Year-on-year, resale volume in September 2015 was 4.7 per cent lower compared with 468 units resold in September 2014.

Resale volume is down 78.2 per cent compared to its peak of 2,050 units resold back in April 2010.

The overall median transaction over X-value (TOX) posted a positive S$1,000 for September, after remaining at zero for the preceding five months.

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

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