Resale prices of non-landed private homes up 0.4 % in June, volume down 10%: SRX

RESALE prices of non-landed private homes have inched up for the second consecutive month, going by the latest data from SRX Property. Its flash estimate for June showed that the price index for such homes rose 0.4 per cent over the preceding month. SRX's revised index value for May reflects a 0.1 per cent increase, against zero change earlier, when the flash estimate for that month was released.

Giving a geographical breakdown, SRX said that prices in Core Central Region slipped 0.8 per cent month-on-month in June. However, prices in Rest of Central Region and Outside Central Region posted gains of 1.1 per cent and 0.5 per cent respectively.

Compared to a year ago, SRX's overall resale price index for non-landed private homes has eased 1.6 per cent in June 2015. From the recent peak in January 2014, the index has declined 6.2 per cent.

According to data compiled by SRX, resale volume of non-landed private homes decreased 10 per cent to 552 units in June from 613 units in May.

Year-on-year, resale volume in June 2015 was 34 per cent higher compared with 412 units in June 2014.

The overall median transaction over X-value (TOX) remained zero in June, the third consecutive month this has happened. Prior to that, the figure was negative S$10,000 for four consecutive months. The median TOX measures how much people are overpaying or underpaying against the computer-generated estimated value or the so-called X-value.