Condo resale prices edge up 0.1%, volume down 10.9% in September: SRX Property

Compared to a year ago, private resale prices in September are 4.3 per cent higher, SRX data shows.
Compared to a year ago, private resale prices in September are 4.3 per cent higher, SRX data shows.PHOTO: ST FILE

SINGAPORE - Resale prices of non-landed private homes inched up 0.1 per cent in September compared with August, flash estimates from SRX Property on Tuesday (Oct 10) show.

There were also fewer resale transactions in September, when the property market might have felt the Hungry Ghost effect.

SRX Property also revised up its resale price increase for August to 0.9 per cent from its initial estimate of 0.7 per cent.

Private resale prices have been on recovery path since November last year, albeit a more muted one than for new private homes, collective or government land sales.

Compared to a year ago, private resale prices in September are 4.3 per cent higher, SRX data shows.

This comes on the back of price increases across regions, led by a 7 per cent rise in the city fringe (rest of central region). Prices were up 4.6 per cent in the prime districts (core central region) and 2.3 per cent in the suburban areas (outside central region).

Source: SRX Property

So far this year, resale prices have gone up by 3.2 per cent.

In terms of sales volume, September saw a 10.9 per cent drop in resale transactions to 1,162 from August's 1,304.

But transactions were 64.8 per cent higher compared with the 705 non-landed homes resold in September last year.

In another upbeat sign for the private resale market, SRX's median transaction over X-value (TOX) - which measures if buyers are overpaying or underpaying its computer-generated market value - rose to S$5,000 from zero in August and July.

For districts with more than 10 resale transactions, district 3 (Alexandra/Commonwealth) posted the highest median TOX of S$38,000.

Among relatively active districts, district 4 (Harbourfront/Telok Blangah) posted a TOX of negative S$104,000.