HDB resale prices remain flat in October

A HDB housing estate in Jurong East.
A HDB housing estate in Jurong East. PHOTO: ST FILE

SINGAPORE - The Housing Board (HDB) resale market continued its long stagnation in October, with prices slipping a marginal 0.1 per cent and volume rising by 0.4 per cent, according to SRX Property flash figures on Thursday (Nov 3).

Prices of five-room flats fell 0.9 per cent, more than offsetting a 0.6 per cent rise for three-room flats and a 0.8 per cent rise for executive flats. Four-room flat prices remained the same.

Overall, the 0.1 per cent fall in October was the same for flats in both mature and non-mature estates. Resale prices were also 0.5 per cent lower than a year ago.

Resale volume inched up 0.4 per cent in October, with 1,673 flats sold compared to 1,666 the month before.

But this was 4.2 per cent lower than the 1,746 units which changed hands in October 2015.

R'ST Research director Ong Kah Seng said the latest figures reflected an ongoing trend of stability in the HDB resale market, with prices oscillating around zero change.

He noted that just as a 0.7 per cent rise in July was followed by a 0.7 per cent dip in August, a 0.1 per cent marginal rise in September has now been followed by a 0.1 per cent correction.

The market is in an "ultimate compromise situation" between buyers and sellers, he added.