Resale prices of non-landed private homes slipped 2.1% in 2015: SRX Property

RESALE prices of non-landed private homes dipped 0.8 per cent in December 2015 over the previous month, according to the latest flash estimates from SRX Property. This contrasts with a 0.6 per cent month-on-month gain in November.

The December 2015 flash estimate index value translates to a 2.1 per cent decline year-on-year. Against the recent peak in January 2014, December 2015 prices were down 7.8 per cent.

SRX Property's analysis showed that in all three geographical regions, prices fell month-on-month in December. Prices retreated 0.5 per cent in Core Central Region, 1.2 per cent in the city fringe or Rest of Central Region and 0.7 per cent in the suburbs or Outside Central Region.

SRX Property estimated that 519 non-landed private homes were resold last month - 10.0 per cent higher than the 472 units resold in November 2015 and a 44.2 per cent year-on-year jump from the 360 units resold in December 2014.

Resale volume was down by 74.7 per cent from the peak of 2,050 units resold in April 2010.

The overall median transaction over X-Value (TOX) fell to negative S$5,000 last month from zero in November.

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