HDB resale prices edge up in November, but fewer flats resold: SRX

Housing Board resale prices edged up 0.2 per cent in November, but transaction volume fell 5.3 per cent.
Housing Board resale prices edged up 0.2 per cent in November, but transaction volume fell 5.3 per cent. PHOTO: ST FILE

SINGAPORE - Housing Board resale prices edged up 0.2 per cent in November, but transaction volume fell 5.3 per cent, according to SRX Property flash figures on Thursday (Dec 8).

Experts said the slight rise made no change to the picture of the overall price stability in the HDB resale market, which has been largely flat for the past two years.

Said R'ST Research director Ong Kah Seng: "This price rise in November is to some extent a random occurrence and cannot be read as prices of resale flats trending north soon."

The slight rise in prices in November could be partly due to buyers eager to conclude a deal before the traditionally quiet December festive period, he added.

The 0.2 per cent overall rise was due to prices of three-, four- and five-room flats rising by 0.2 per cent, 0.2 per cent and 0.3 per cent respectively. Resale prices of executive flats, however, fell 0.3 per cent.

Flats in mature estates saw a price rise of 0.8 per cent, but this was partly offset by a 0.3 per cent fall in non-mature estates.

There were 1,585 flats resold in November, down 5.3 per cent from the 1,673 transactions in October.

However, this was higher than the 1,480 flats which changed hands a year before.