HDB resale prices and volume down again, SRX Property data show

Resale prices and transactions for Housing Board flats fell 0.5 per cent from December last year to January this year.
Resale prices and transactions for Housing Board flats fell 0.5 per cent from December last year to January this year. ST PHOTO: ALPHONSUS CHERN

SINGAPORE - Resale prices and transactions for Housing Board flats inched down again last month, further delaying hopes of a market recovery.

Prices in both mature and non-mature estates fell 0.5 per cent during the December to January period, according to latest data from SRX Property.

After six months of prices crawling up, this marks the first decline in the monthly index since July last year, said SRX Property.

Prices have slid 11.1 per cent since their peak in April 2013, and 1.3 per cent from a year ago.

Last month's drop was led by three-room and four-room flat prices, which went down by 0.5 per cent and 1 per cent respectively.

Five-room and executive flat prices, however, went up by 0.2 per cent and 1.4 per cent respectively.

The number of transactions also fell slightly. In January, 1,286 flats were sold, down from the 1,407 that changed hands in December.

This means resale volume is down 64.8 per cent from its peak of 3,649 units in May 2010.

Overall, resale flats transacted last month went for a median $1,000 under their market value, or X-value. This figure is derived from SRX Property's computer-generated appraisal of home market values.

Flats in Bishan, long popular for being in a centrally-located mature estate, logged a median $19,000 over their X-value.