September private resale volume down 10.6%: SRX

By The Folks @PropTalk - October 13, 2015 2 Comments

The private housing market remained in the doldrums in September, with sales of non-landed units continuing to decline, according to flash estimates from SRX Property released on Tuesday (Oct 13).

A total of 446 non-landed private homes were resold last month, down 10.6% compared to the 499 units resold in August. On a year-on-year basis, resale volume was down 4.7% from the 468 units resold in September 2014.

Resale prices inched down 0.1% from August, with the fall led by units in the Rest of Central Region and Outside of Central Region, which posted price declines of 1.4% and 0.9%, respectively. In contrast, prices of units in the Core Central Region rose 2.8%  from the previous month, SRX Property said.

The median Transaction Over X-Value (TOX) for private property, which measures whether people are overpaying or underpaying SRX Property’s estimated market value, rose for the first time in six months to $1,000.

For districts with more than 10 resale transactions, District 15 (Katong, Joo Chiat, Amber Road) posted the highest median TOX of $20,000. The lowest median TOX was in District 19 (Serangoon, Hougang, Punggol), with -$5,000.
Source: CNA

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