HDB resale prices dip 0.1% in March; volumes up 37.6%: SRX flash estimate

PRICES of Housing & Development Board (HDB) resale flats dipped slightly in March 2016 over the preceding month. However, volumes climbed 37.6 per cent, based on the latest data from SRX Property released on Thursday.

Its overall price index for HDB resale flats fell marginally by 0.1 per cent month on month in March. This contrasts with a 0.2 per cent month-on-month gain in February.

The March flash estimate for the index translates to a modest 0.1 per cent year-on-year increase. From the peak in April 2013, the index has eased 11 per cent.

In mature estates, prices retreated 0.3 per cent month on month in March, while the price index for non-mature estates remained unchanged.

On a year-on-year basis, prices have inched up 0.3 per cent in mature estates but dipped 0.1 per cent non-mature estates.

According to data compiled by SRX Property, 1,651 HDB resale flats changed hands last month, a 37.6 per cent increase from 1,200 flats in the preceding month.

Year-on-year, the resale volume climbed 22.5 per cent compared to the 1,348 units resold in March 2015. However, the number was down 54.8 per cent from the peak of 3,649 in May 2010.

According to SRX Property, the overall median transaction over X-Value (TOX) in the HDB resale market was zero last month, an improvement from negative S$2,000 in the previous month.

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