HDB cash-over-valuation dropped to $15,000 in September

It's the lowest since July 2009.

According to SRX, overall HDB Cash-Over-Valuation (COV) dropped by another $3,000 in September to reach $15,000 - the lowest since Jul 2009, when the overall COV was $10,000.

Despite the drop in COV, overall HDB resale prices remained relatively flat with a small increase of 0.2% from August, after 4 consecutive drops in the preceding months.

Here's more from SRX:

An estimated 1,164 HDB flats were sold in the resale market in September, slightly less than the 1,193 flats transacted in August.

This brings the whole Q3's HDB resale volume to 3,661 units, a 33% drop compared to Q3 of last year.

An estimated 4,459 HDB flats were leased out in 2013Q3, 1% more than the 4,406 leases signed in the same quarter of last year.