HDB resale prices dropped 1.1% in January

Resale volume increased 8.8% to 1,560 flats.

Housing and Development Board (HDB) resale flat prices dropped 1.1% YoY in January, an announcement by SRX Property revealed.

In QoQ terms however, prices edged up 0.5% QoQ. The agency also noted how prices in January were down 13.9% from its peak in April 2013.

The resale prices of HDB 4 rooms, HDB 5 rooms and HDB executive recorded an increase of 0.8%, 0.3% and 1.9% respectively, whilst HDB 3 rooms prices dipped 0.1%. Prices in mature estates also slipped 0.1% QoQ, whilst those in non-mature estates inched up 1% QoQ.

Also read: Million dollar HDB resale flats on the rise

The agency also noted that HDB resale volumes grew 8.8% QoQ from 1,434 units in December 2018 to 1,560 resale flats sold in January. YoY, resale volume in January was 43% higher than the 1,091 units resold in the beginning of 2018.

SRX’s median transaction over X- value (TOX) which measures how much a buyer is overpaying or underpaying the SRX Property X-value’s estimated market value came in at -$1,000 in January. This represented a $1,000 increase compared to the -$2,000 recorded in December 2018.

“Pasir Ris posted the highest median TOX of $8,000, followed by Woodlands at $4,000,” SRX noted. Clementi and Toa Payoh posted the lowest median TOX at -$8,500, followed by Serangoon at -$7,700.