HDB resale volume plunged 31.4% in January

Resale prices are 2% cheaper than a year ago.

There were 1,089 HDB resale flats sold in January, a 31.4% decrease from 1,587 transacted units in December, the Singapore Real Exchange (SRX) revealed. On a yearly basis, the volume dipped 8.7% form 1,193 units resold the previous year.

According to flash data, resale volume was down by 70.2% compared to its peak of 3,649 units in May 2010.

Meanwhile, the resale prices of HDB flats in January fell by 2% YoY and 0.5% MoM.

The resale prices of HDB 4 Rooms and HDB Executive increased by 1.3% and 0.4% respectively, whilst HDB 3 Rooms and HDB 5 Rooms decreased by 2.3% and 1.2% respectively.

In January 2018, HDB resale prices in mature estates went down by 2.3% YoY and non-mature estates fell by 1.8%.

Here's more from SRX:

The median Transaction Over X-Value (T-O-X) for HDB was NEGATIVE $3,000 in January 2018. The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

Overall Median T-O-X was NEGATIVE $3,000 in January 2018, decreased by $100 compared to the figure in December 2017;

Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in January 2018 were NEGATIVE $5,000, NEGATIVE $2,000, NEGATIVE $3,500 and POSITIVE $2000 respectively.

For HDB towns having more than 10 resale transactions with T-O-X in January 2018, Kallang/Whampoa and Geylang reported the highest median TOX of POSITIVE $17,000 followed by POSITIVE $4,300 in Sengkang.

This means that majority of the buyers in these towns have purchased units above the computer-generated market value.

Among HDB towns having more than 10 resale transactions with T-O-X in January 2018, the lowest median T-O-X was in Jurong East at NEGATIVE $16,000, followed by Bukit Merah at NEGATIVE $9,000.

This means that majority of the buyers in these towns have purchased units below the computer-generated market value.