HDB resale prices edge up in November, volume dips further: SRX

Resale prices of Housing Board flats rose 0.2 per cent in November after a slight dip in October.
Resale prices of Housing Board flats rose 0.2 per cent in November after a slight dip in October.ST PHOTO: LIM YAOHUI

SINGAPORE - Resale prices of Housing Board flats rose 0.2 per cent last month after a slight dip in October, although the number of transactions fell again.

The price increase was most significant for HDB executive flats, at 2.5 per cent, while the cost of four-roomers dropped 0.3 per cent and that of five-room units fell 0.5 per cent, flash estimates by real estate portal SRX Property showed on Thursday (Dec 6).

Resale prices of three-room flats remained unchanged, SRX added, although costs in mature estates rose 0.6 per cent, and dropped 0.1 per cent in non-mature areas.

Compared to November 2017, however, resale prices last month were 1.7 per cent lower. They were also down by 14.1 per cent from the peak in April 2013.

The number of resale transactions continued to fall last month, with 1,881 HDB resale flats sold.

This was down from 1,994 in October and 1,999 in September, and lower than the resale volume in November 2017 as well.

The overall median transaction-over-x value (TOX) was negative $1,000 again, remaining unchanged from the figure in October.

TOX is a measure of whether buyers are overpaying, or underpaying for their units, compared with a market value that is computer-generated by SRX Property.

It is the company's take on cash-over-valuation, the premium paid on a flat's expected value and which is no longer tracked by HDB.

The median TOX for HDB three-roomers last month was negative $2,000, while that of four-roomers was negative $1,000.

The value was zero for five-room units and highest at $3,000 for executive flats.

Areas with the highest median TOX were Bukit Panjang and Hougang at $9,000, followed by Sembawang at $3,500.

Serangoon had the lowest median TOX at negative $10,000, and Bukit Merah came next at negative $9,000.