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HDB resale prices dip 0.1% in November but volume rises 11.2%: SRX Property
HDB resale prices continued to weaken, edging down 0.1 per cent in November from a month ago, while sales volume continued to strengthen with a 11.2 per cent increase, SRX Property flash estimates showed on Thursday.
The price dip last month was smaller than the 0.2 per cent month-on-month decline in October. October's figure was revised up from a 0.3 per cent drop.
From a year ago, HDB resale prices in November were 2.3 per cent lower, and 12.6 per cent below their peak in April 2013.
Month on month, only 5-room flats saw a price increase - of 0.4 per cent - while 3-room, 4-room and executive flats recorded price dips of 0.3 per cent, 0.1 per cent and 0.1 per cent respectively.
Resale prices in mature estates reversed October's drop with a 0.3 per cent rise, while prices of flats in non-mature estates declined by 0.4 per cent.
Demand for HDB resale flats was stronger, both on a monthly and yearly basis.
SRX Property said that 1,980 resale flats were sold in November from 1,781 units in October. The 11.2 per cent month-on-month rise in sales volume was much higher than October's 5.9 per cent increase.
Year on year, resale volume jumped by 24.1 per cent from the 1,596 resale flats sold in November 2016.
Still, the HDB resale market has yet to return to its heyday. Sales volume in October was 45.7 per cent lower than their peak in May 2010 when 3,649 resale flats were sold.
For HDB towns having more than 10 resale transactions in October, Toa Payoh reported the highest median TOX of S$7,000 followed by Pasir Ris with S$6,000. This means that the majority of the buyers in these towns purchased units above SRX's computer-generated market value.
Jurong East posted the most negative median TOX of S$10,000, followed by Sembawang at S$9,500.