Exec flats prop up HDB resale prices in Nov: SRX

HDB resale price index
HDB resale price index

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

The price rise was most significant for 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 yesterday.

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 with November last year, however, resale prices last month were 1.7 per cent lower. They were also down by 14.1 per cent from a peak in April 2013.

The number of resale transactions continued to fall last month, with 1,881 HDB resale flats sold - down from 1,994 in October and 1,999 in September, and lower than the resale volume in November last year as well.

The overall median transaction-over-x value (TOX) was negative $1,000 again, remaining unchanged from October. TOX is a measure of whether buyers are overpaying or underpaying for their units, compared with SRX's computer-generated market value.

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

A version of this article appeared in the print edition of The Straits Times on December 07, 2018, with the headline 'Exec flats prop up HDB resale prices in Nov: SRX'. Print Edition | Subscribe