HDB resale volume down by 11.6%, prices drop 0.1% in June

Blocks of HDB housing flats around Whampoa area.
Blocks of HDB housing flats around Whampoa area. PHOTO: ST FILE

SINGAPORE - The resale volume for Housing Board (HDB) flats fell by 11.6 per cent last month from May, property data portal Singapore Real Estate Exchange said in a report on Thursday (July 6).

According to the data it compiled, 1,753 HDB resale flats were sold last month (June), compared with 1,984 in May.

Last month's resale volume was also 5 per cent lower compared with June last year, when 1,846 units were resold.

At the same time, resale prices last month fell slightly, by 0.1 per cent, compared with May.

The resale prices of five-room HDB flats fell by 1.5 per cent and those of three-room flats slipped 0.2 per cent. The prices of executive flats rose by 1.7 per cent, while the prices of four-room flats fell by 0.3 per cent.

Across the board, HDB resale prices have fallen by 11.7 per cent since their peak in April 2013. Since June last year, prices have fallen slightly, by 0.2 per cent.

In June, HDB resale prices in mature estates rose by 0.8 per cent from May, compared with a 0.9 per cent dip in non-mature estates.

SLP International executive director Nicholas Mak said the trend shows a stabilising resale market.

He said: "It is a good thing as it means that the resale market is reaching equilibrium. The Government has been steadily pushing for more Build-To-Order flats in the past two-and-a-half years, which meets demand, especially for first-time buyers."

He added that the fall in price and volume may also be due to the June school holidays, which is a period when the resale market will "typically see a pullback, with buyers and sellers going overseas for holidays".