HDB resale prices slip 0.3% in Oct: SRX

Fri, Nov 10, 2017

Lee Meixian

HDB resale prices dipped by 0.3 per cent in October from a month ago, the same decline seen in September, but sales volume recovered to post a 5.9 per cent increase, SRX Property flash estimates showed on Thursday.

From a year ago, resale prices in October were 1.9 per cent lower, and 12.5 per cent below the peak in April 2013.

Month-on-month, the resale prices of HDB three-room and five-room flats rose by 0.5 per cent and 0.2 per cent respectively, while those of four-room flats were flat and prices of executive flats dropped by 0.9 per cent.

Resale prices in mature estates reversed September's rise with a 0.8 per cent drop in October, while prices in non-mature estates edged up by 0.1 per cent.

Based on SRX Property estimates of HDB resale transactions, 1,781 HDB resale flats were sold in October, a 5.9 per cent increase from 1,681 units in September. This was a swing from the 14 per cent month-on-month fall seen in September.

Year-on-year, resale volume increased by 5 per cent compared to the 1,696 units resold in October 2016. But sales are down by 51.2 per cent compared to the peak of 3,649 units in May 2010.

Last month, HDB released official third-quarter figures which showed resale flat prices continued to fall. The resale price index declined 0.7 per cent for the three months ended September, compared to the previous quarter. The Q3 decline was also the biggest quarterly fall since the first quarter of 2015, when resale flat prices fell one per cent.

Following a four-year high, HDB resale flat transactions also fell by 3.2 per cent in Q3 to 5,808 deals, down from 6,001 deals in Q2.