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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