October resale prices up slightly: SRX

By The Folks @PropTalk - November 11, 2014 No Comments

Resale prices of non-landed private homes climbed marginally in October by 0.4% month-on-month, according to flash estimates from SRX Property on Tuesday (Nov 11).
When compared with October 2013, resale prices of non-landed private homes have dropped 4.5%. Compared with the recent peak in January 2014, prices have declined 5.2%, SRX said.
Resale prices of private homes in the Rest of Central Region and Outside of Central Region drove the climb, with both increasing 0.6%. In contrast, prices in the Core Central Region dipped 0.3%.
However, the number of resale transactions slipped by 2.2% from September, with an estimated 451 units resold in October compared to the 461 transacted units from the previous month.
The overall median Transaction Over X-value (TOX), which measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value, dipped to -$4,000 in October from -$2,000 in September.
For districts with more than 10 resale transactions, districts 9, 10 and 25 saw a positive median TOX, with district 10 posting the highest median TOX of $30,000, followed by district 9 with $22,000 and district 25 with $15,000.
Conversely, districts 14 had the lowest median TOX, posting -$41,000, followed by district 12 with -$40,000 and district 11 with -$31,000.
Source: CNA

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