Prime region leads private-home resale price rise in January: SRX Property

THE first month of 2017 saw a continued momentum in the high-end residential property segment, with resale prices in the Core Central Region (CCR) making a 1.9 per cent rise from a month ago and 2.7 per cent increase from a year ago, based on SRX Property estimates.

This helped to lift SRX Property's overall resale index for the private residential market by 1.1 per cent month on month in January and 0.3 per cent from a year ago.

In the city-fringe or Rest of Central Region (RCR) and suburban areas or Outside Central Region (OCR), resale prices also rose by 1.5 per cent and 0.4 per cent respectively.

But compared to a year ago, resale prices in the RCR and OCR recorded a fall of 0.1 per cent and 1.1 per cent respectively last month.

SRX Property revised the price change in December 2016 from a 0.4 per cent rise to 0.5 per cent increase.

Resale volumes in January marked a 9.1 per cent increase from December and 29.9 per cent from a year ago, based on resale data compiled by SRX Property.

An estimated 526 non-landed resale private units were sold last month. But resale volumes were still 74.3 per cent below the peak of 2,050 units in April 2010, SRX Property said on Tuesday.