HDB resale prices edge up in April on back of highest volume in two years

Housing Board resale prices edged up in April on the back of the highest transaction volume in two years, bucking the downward trend, according to SRX Property flash figures on Thursday. -- ST PHOTO: KUA CHEE SIONG
Housing Board resale prices edged up in April on the back of the highest transaction volume in two years, bucking the downward trend, according to SRX Property flash figures on Thursday. -- ST PHOTO: KUA CHEE SIONG

SINGAPORE - Housing Board resale prices edged up in April on the back of the highest transaction volume in two years, bucking the downward trend, according to SRX Property flash figures on Thursday.

Resale prices were up 0.2 per cent in April compared to March, driven by a 0.3 per cent rise in three-roomer prices and a 0.9 per cent rise for four-roomers. This more than made up for falls in five-room and executive HDB prices of 0.8 per cent and 2 per cent respectively.

Prices were up 0.6 per cent for resale flats in mature estates but down 0.2 per cent in non-mature estates.

Despite the marginal increase, prices in April were still 6 per cent lower than the same time last year, and 11 per cent lower than the peak in April 2013. Resale volumes, however, reached a two-year high. In April, 1,610 flats changed hands.

This was 19.3 per cent higher than the 1,349 sales in March and 8.5 per cent higher than the 1,484 sales in April last year.

Buyers also continued to underpay for flats, according to SRX Property's own estimate of flat value, called X-Value. The median buyer paid $2,000 below X-Value in April, compared to $3,000 below X-Value in March.