HDB resales up 9.7% to 1,195 units in February

Resale prices were down by 2.4%.

HDB resale volume for the month grew 9.7% YoY from 1,089 units in 2017 to 1,195 units in 2018, the Singapore Real Exchange (SRX) revealed. On a monthly basis, the volume grew 9.6% from 1,090 units in January.

According to flash data, resale volume was down by 67.3% compared to its peak of 3,649 units in May 2010.

Meanwhile, HDB resale prices dipped by 2.4% YoY in February 2018. There was a decrease of 0.6% in HDB Resale prices in February 2018 compared to that of January 2018. The resale prices of HDB 5 Rooms rose by 0.5%, whilst HDB 3 Rooms, HDB 4 Rooms, and HDB Executive dipped by 0.2%, 1.5%, and 1.6% respectively.

Moreover, prices in mature estates have fallen by 2.7% YoY whilst prices in non-mature estates have decreased by 2.2%.

Here’s more from SRX:

According to SRX Property, the median T-O-X for HDB was POSITIVE $1,000 in February 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 POSITIVE $1,000 in February 2018, increased by $4,000 compared to the figure in January 2018; Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in January 2018 were POSITIVE $500, POSITIVE $1,900, NEGATIVE $1,500 and POSITIVE $6,900 respectively.

For HDB towns having more than 10 resale transactions with T-O-X in February 2018, Pasir Ris reported the highest median TOX of POSITIVE $12,000 followed by POSITIVE $11,000 in Serangoon. This means that majority of the buyers in these towns have purchased units above the computer-generated market value.

Amongst HDB towns having more than 10 resale transactions with T-O-X in February 2018, the lowest median T-O-X was in Ang Mo Kio at NEGATIVE $14,600, followed by Toa Payoh at NEGATIVE $7,000. This means that majority of the buyers in these towns have purchased units below the computer-generated market value.