June scorecard: New sales and rental down, resale up!

By The Folks @PropTalk - July 16, 2015 No Comments

New private home sales slumped in June: URA

New private home sales fell 42% in June from May as developers launched fewer units.

Data from the Urban Redevelopment Authority (URA) on Wednesday (Jul 15) showed developers sold 375 housing units last month - well below the revised figure of 643 units for May.

Developers launched just 219 units in June, down from May's 500 units.

Including executive condominiums (ECs), sales by developers fell to 485 units in June from 853 units in May.

Private rental dipped in June: SRX

Rental prices for non-landed private residences fell by 0.5% in June compared to May, according to flash estimates released by SRX Property on Wednesday (Jul 15).

Non-landed private property units in the Core Central Region and Outside Central Region saw rental prices fall by 0.8% and 0.7%, respectively, while units in the Rest of Central Region saw no change.

June’s rents were down 6.5% year-on-year, and down 12.4% from its peak in January 2013, SRX Property said.

An estimated 3,777 units were rented in June, a 1% increase from the 3,739 units rented in the previous month. 

Year-on-year, rental volume was 15.4% higher than the 3,273 units rented in June 2014.

Private resale volume and prices up: SRX

The resale volume of non-landed private residential units was up 34% year-on-year in June, with an estimated 552 units resold, the SRX Property said on Tuesday (Jul 14).

However, compared to the previous month, resale volume was down 10% from the 613 units resold in May.

Resale prices inched up 0.4% from May, driven by units in the Rest of Central Region and Outside of Central Region, which posted price increases of 1.1% and 0.5%, respectively. In contrast, prices of units in the Core Central Region were down 0.8% from the previous month, SRX Property said.

Overall resale prices were down 1.6%, however, when compared on a year-on-year basis.

The median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, remained neutral.

For districts with more than 10 resale transactions, District 5 (Pasir Panjang, Clementi) posted the highest median TOX of $30,000, followed by District 10 (Bukit Timah, Holland Road, Tanglin) and District 15 (Joo Chiat, Marine Parade, Katong) with $14,000 for both districts. 

The lowest median TOX was in District 9 (Orchard Road, River Valley), with -$55,000.

Source: CNA

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