reporter2
08-04-16, 19:32
http://www.businesstimes.com.sg/real-estate/srxs-hdb-resale-price-index-continues-flattish-performance
SRX's HDB resale price index continues flattish performance
Index dips 0.1% in March after gaining 0.2% in February; number of flats resold jumps 37.6% to 1,651 units in March
By Kalpana Rashiwala
[email protected]
@KalpanaBT
Apr 8, 2016
IN A further sign of stability setting in the public housing resale market, SRX Property's flash estimates for March 2016 showed prices continuing their flattish performance, amid a 37.6 per cent month-on-month jump in the number of Housing and Development Board flats resold to 1,651 last month.
The marginal 0.1 per cent month-on-month drop in SRX's overall HDB resale price index in March follows a 0.2 per cent gain in February.
SRX Property's March flash estimate for the index reflects a modest 0.1 per cent year-on-year increase. From the peak in April 2013, the index has eased 11 per cent.
Said ERA Realty Network key executive officer Eugene Lim: "We should be seeing increasing price stability in the resale market for the coming months.
"Prices have limited headroom to appreciate as the slowing economy and loan curbs put a lid on any pricing exuberance."
Moreover, buyers are expected to stay conservative when making offers. Publicly available data allows buyers to view recent deals easily - contributing to price stability as negotiations these days centre around these prices.
On the whole, ERA expects the official HDB resale price index to fall about one per cent this year, a smaller magnitude of decline compared with last year's 1.6 per cent drop.
SRX's data released on Thursday showed that in mature estates, HDB resale prices retreated 0.3 per cent month on month in March, while the price index for non-mature estates remained unchanged.
On a year-on-year basis, prices have inched up 0.3 per cent in mature estates while easing 0.1 per cent in non-mature estates.
According to data compiled by SRX Property, the figure of 1,651 HDB resale flats sold in March 2016 was not only higher than the 1,200 flats in the preceding month but 22.5 per cent more than the 1,348 units resold in March 2015.
That said, the March 2016 volume was down 54.8 per cent from the peak of 3,649 HDB resale flats transacted in May 2010.
Mr Lim noted that going by SRX data, 4,137 flats changed hands in the resale market in the first three months of 2016 - 9.1 per cent more than the 3,791 in the corresponding period of 2015.
"Thus, we should see the overall sales number for 2016 coming in at about 20,000 to 21,000 units, an increase over the 19,306 in 2015, based on the official HDB data," Mr Lim.
According to SRX Property, the overall median transaction over X-Value (TOX) in the HDB resale market was zero last month, an improvement from negative S$2,000 in the previous month.
The median TOX measures how much people are overpaying or underpaying against the computer-generated estimated market value or the so-called X-Value.
SRX's HDB resale price index continues flattish performance
Index dips 0.1% in March after gaining 0.2% in February; number of flats resold jumps 37.6% to 1,651 units in March
By Kalpana Rashiwala
[email protected]
@KalpanaBT
Apr 8, 2016
IN A further sign of stability setting in the public housing resale market, SRX Property's flash estimates for March 2016 showed prices continuing their flattish performance, amid a 37.6 per cent month-on-month jump in the number of Housing and Development Board flats resold to 1,651 last month.
The marginal 0.1 per cent month-on-month drop in SRX's overall HDB resale price index in March follows a 0.2 per cent gain in February.
SRX Property's March flash estimate for the index reflects a modest 0.1 per cent year-on-year increase. From the peak in April 2013, the index has eased 11 per cent.
Said ERA Realty Network key executive officer Eugene Lim: "We should be seeing increasing price stability in the resale market for the coming months.
"Prices have limited headroom to appreciate as the slowing economy and loan curbs put a lid on any pricing exuberance."
Moreover, buyers are expected to stay conservative when making offers. Publicly available data allows buyers to view recent deals easily - contributing to price stability as negotiations these days centre around these prices.
On the whole, ERA expects the official HDB resale price index to fall about one per cent this year, a smaller magnitude of decline compared with last year's 1.6 per cent drop.
SRX's data released on Thursday showed that in mature estates, HDB resale prices retreated 0.3 per cent month on month in March, while the price index for non-mature estates remained unchanged.
On a year-on-year basis, prices have inched up 0.3 per cent in mature estates while easing 0.1 per cent in non-mature estates.
According to data compiled by SRX Property, the figure of 1,651 HDB resale flats sold in March 2016 was not only higher than the 1,200 flats in the preceding month but 22.5 per cent more than the 1,348 units resold in March 2015.
That said, the March 2016 volume was down 54.8 per cent from the peak of 3,649 HDB resale flats transacted in May 2010.
Mr Lim noted that going by SRX data, 4,137 flats changed hands in the resale market in the first three months of 2016 - 9.1 per cent more than the 3,791 in the corresponding period of 2015.
"Thus, we should see the overall sales number for 2016 coming in at about 20,000 to 21,000 units, an increase over the 19,306 in 2015, based on the official HDB data," Mr Lim.
According to SRX Property, the overall median transaction over X-Value (TOX) in the HDB resale market was zero last month, an improvement from negative S$2,000 in the previous month.
The median TOX measures how much people are overpaying or underpaying against the computer-generated estimated market value or the so-called X-Value.