Prices of resale private homes fall in Nov to lowest level this year

The private home resale market weakened yet again in November, with prices falling to their lowest point so far this year. -- ST FILE PHOTO: ALPHONSUS CHERN
The private home resale market weakened yet again in November, with prices falling to their lowest point so far this year. -- ST FILE PHOTO: ALPHONSUS CHERN

The private home resale market weakened yet again in November, with prices falling to their lowest point so far this year.

Resale prices of non-landed private homes sank 1.5 per cent in November from the preceding month, according to Singapore Real Estate Exchange (SRX) flash estimates out on Thursday.

This marks the third consecutive monthly drop in the SRX's overall resale price index.

The price drops were islandwide, led by a 2 per cent tumble in the city centre. Suburban regions saw a 0.9 per cent slide and the city fringe a 0.7 per cent decline.

Resale volumes also fell in November. The estimated 387 resale transactions last was 22.9 per cent lower than the 502 units resold in October, and a sharp 62 per cent plunge from the 1,019 units resold in November last year.

The SRX said rentals remained flat in November from October after three straight months of decline.