Resale volume of HDB flats down 4%

Analysts said the fall in last month's resale transaction volume was not significant but should be monitored.
Analysts said the fall in last month's resale transaction volume was not significant but should be monitored.ST PHOTO: LIM YAOHUI

Property portal SRX data also shows April prices down 0.3% from previous month

Resale volume for Housing Board flats fell by 4 per cent last month, property data portal SRX said in a flash report yesterday.

According to resale data it compiled, 1,834 HDB resale flats were sold in April, compared with the previous month's 1,910. Last month's resale volume was also 0.9 per cent lower than in April last year, when 1,850 units were resold.

At the same time, resale prices last month went down by 0.3 per cent compared with March.

The resale prices of five-room HDB flats increased by 0.2 per cent, while those of three-room, four- room and executive flats fell by 0.2 per cent, 0.7 per cent and 0.9 per cent respectively. Across the board, prices have declined by 11.4 per cent since the peak in April 2013.

Last month, HDB resale prices in mature estates decreased by 0.9 per cent, compared with 0.2 per cent increase in non-mature estates.

  • 1,834

    Number of HDB resale flats sold in April, compared with the previous month's 1,910.

Mr Chris Koh, director of property firm Chris International, said the fall in transaction volume was not significant. He added that resale transactions tend to pick up in the second and third quarters, after the Chinese New Year festivities in the first quarter.

"As long as you get 1,800 to 2,000 transactions a month, we're on track for a healthy 20,000 transactions by the year end," he said.

But SLP International research head Nicholas Mak noted that in data released last week by the HDB, resale prices fell by 0.5 per cent in the first quarter of this year compared with the last quarter of last year. This, he said, was a surprising drop, given the relatively stable fluctuations of 0 per cent to 0.1 per cent for the previous four quarters.

Noting SRX's April flash figures, he said: "Let's see if the fall in resale prices continues over the next three months - otherwise, it still points to a very stable market."

A version of this article appeared in the print edition of The Straits Times on May 05, 2017, with the headline 'Resale volume of HDB flats down 4%'. Print Edition | Subscribe