Resale prices of non-landed private homes inch up 0.2% in Aug: SRX

RESALE prices of Singapore non-landed private homes inched up 0.2 per cent in August over the preceding month, going by the latest flash estimate from SRX Property. SRX's revised index value for July reflects a 0.1 per cent increase, a smaller gain compared with the 0.3 per cent increase registered earlier, when the flash estimate for that month was released.

A geographical breakdown of SRX data showed that month on month, prices in the city fringe or rest of central region increased 1.8 per cent in August. However, prices slipped 0.5 per cent in core central region and dipped 0.2 per cent in outside central region.

Compared to a year ago, SRX's overall resale price index for non-landed private homes eased 1.7 per cent in August 2015. From the recent peak in January 2014, the index has shed 6.5 per cent.

According to data compiled by SRX Property, resale volume of non-landed private homes decreased 16.8 per cent to 466 units in August from 560 units in July.

Year-on-year, resale volume in August 2015 was nearly16 per cent higher compared with 402 units in August 2014.

Resale volume was down 77.3 per cent compared to its peak of 2,050 units resold in April 2010.

The overall median transaction over X-value (TOX) has remained zero for the past five months.

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