June Resale: More deals but prices at 18-month low!

By The Folks @PropTalk - July 14, 2014 1 Comment

Resale prices for non-landed private residential homes continued to fall in June, reaching a 1.5-year low, according to the latest report by the Singapore Real Estate Exchange (SRX) on Monday (July 14).

Overall resale prices fell 1.4% month-on-month to hit an 18-month low, with prices at their lowest since December 2012, according to the SRX Flash Report. Compared to the price peak in January this year, June prices are 4.7% lower.

Prices fell for all three regions - Rest of Central Region (RCR), Core Central Region (CCR) and Outside Central Region (OCR) - with the city fringe area leading the fall by 3.2%. This was followed by the core central area and the suburbs, which dropped 1.7% and 0.3%, respectively, SRX said.

The majority of districts - or 15 of 24 districts - saw zero or negative median Transaction Over X-value (TOX) in June. For districts with more than 10 resale transactions, districts 15 (Katong, Joo Chiat and Amber Road) and 10 (Bukit Timah, Holland Road and Tanglin) had the lowest median TOX at negative S$50,000 and negative S$37,000, respectively.

The number of resale transactions went up though, registering a 7.9% month-on-month growth to reach an estimated 452 deals in June. Resale volume has gone up by 53.7% since the beginning of year, the report said.

In terms of rental deals, prices slipped 0.8% compared to May while volume went up 2.2% over the same period. An estimated 3,151 whole units were rented out last month, according to SRX.
Info source: CNA

1 comment to ''June Resale: More deals but prices at 18-month low!"

  1. Singapore private home sales plunge 68% on-month in June - Channel news asia!!!