Private resale prices down 6.1% since January 2014: SRX

Resale prices of non-landed private homes inched up 0.1% in December 2014 from the previous month, while resale volume remained flat, according to flash estimates from SRX Property on Tuesday (Jan 13).

Year-on-year, resale prices dropped 4.2% from December 2013.

Compared with the recent peak in January 2014, prices have declined 6.1%, SRX said.

Resale prices of private homes in the Outside of Central Region rose 0.5% month-on-month. In comparison, prices in the Core Central Region and Rest of Central Region fell 1.1% and 1.2%, respectively.

Resale volume remained flat, with 371 units resold in December, unchanged from November. Year-on-year, resale volume was 13.1% higher compared with the 328 units transacted in December 2013.

The overall median Transaction Over X-value (TOX), which measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value, fell to -$10,000 last month from zero in November.

For districts with more than 10 resale transactions, districts 25 (Kranji, Woodgrove) had the highest median TOX of $25,000, followed by district 15 (Katong, Joo Chiat, Amber Road) with $24,000.

Conversely, district 10 (Bukit Timah, Holland, Tanglin) had the lowest median TOX with -$80,000, followed by district 23 (Bukit Panjang, Choa Chu Kang) with -$41,000 and district 5 (Pasir Panjang, Clementi) with -$32,000.

Source: CNA

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