Private resale down 0.7% in April: SRX Property

By The Folks @PropTalk - May 12, 2015 No Comments

Non-landed private residential resale prices have slipped 0.7% in April 2015 compared to a month ago, according to data by SRX Property released on Tuesday (May 12).

Year-on-year, resale prices dropped 4% from April 2014, and compared to the peak in January 2014, prices have fallen 6.9%, the data showed.

Resale prices of non-landed private homes in the Core Central Region and the Outside of Central Region dipped 0.1% and 1.5%, respectively. In contrast, prices in the Rest of Central Region rose by 0.4%.

Resale volume was also down in April, with 440 non-landed private residential units sold - a 2.7% dip compared to March 2015. But year-on-year, resale volume was 1.9% higher compared with the 432 units sold in April last year.

Resale volume was down 78.5% compared to the peak of 2,050 units resold in April 2010.

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value, has improved by $10,000 to reach S$0 in April.

For districts with more than 10 resale transactions, district 16 (Bedok, Upper East Coast) had the highest median TOX of $20,000. This means that majority of the buyers in this district has purchased units above the computer-generated market value, said SRX Property.

Conversely, district 15 (Katong, Joo Chiat, Amber Road) had the lowest median TOX with -$21,000. 

Source: CNA

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