HDB resale flat volume in April the highest since Oct 2012; prices down 0.1 per cent

HDB flats at Bukit Panjang Ring Road near Jelapang LRT Station.
HDB flats at Bukit Panjang Ring Road near Jelapang LRT Station. PHOTO: ST FILE

SINGAPORE - Even as Housing Board resale flat prices inched down in the past month (April), the number of units that changed hands stood at its highest since Oct 2012.

Overall resale prices continued its relatively flat trend of the past year, dipping only 0.1 per cent last month (April), according to latest flash figures from SRX Property.

This was led mainly by five-roomer prices which slid 0.9 per cent. Three-room and executive flat prices rose 0.6 per cent and 0.1 per cent respectively, while four-roomer prices stayed flat.

The volume of transactions last month, however, rose to 1,828 units - a 10.3 per cent climb from the 1,657 flats transacted in March.

According to SRX Property, this is the highest volume since Oct 2012, when 1955 units changed hands. This was just before property cooling measures such as the new Additional Buyer's Stamp Duty and Total Debt Servicing Ratio were introduced in 2013.

Despite this, resale volume last month still stood far from a market rebound. The numbers are down almost 50 per cent from its peak of 3,649 units in May 2010.

Overall, HDB resale flats transacted last month mostly went at their market value, or X-value. This value is derived from SRX Property's computer generated appraisal of home values, taking into account factors such as unit size, floor level and recent resale prices in the vicinity.

Resale transactions in the mature estates of Queenstown and Tampines recorded the highest respective medians of $11,000 and $8,000 over their X-values last month.