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Fewer HDB resale flats sold in June

HDB at Compassvale Link

But prices increased by 0.1% in June compared with the previous month, according to the real estate portal

THERE were fewer Housing Board resale flats sold in June compared with May, while prices inched up slightly.

Flash estimates from real estate portal SRX released on Thursday revealed that 1,895 HDB resale flats changed hands in June, an 8.7 per cent decrease from the 2,076 units in May.

The resale volume in June was also 4.8 per cent lower than the 1,991 units sold in the same month last year. However, SRX data showed that HDB resale prices increased by 0.1 per cent in June compared with the previous month.

Prices of three-room, five-room and executive flats rose by 0.6 per cent, 0.3 per cent and 1.4 per cent respectively. But prices for four-roomers fell by 0.3 per cent.

In mature estates, the prices were up 0.4 per cent while those in non-mature estates saw a dip of 0.1 per cent compared with May.

According to the SRX property price index for HDB resale flats, June's prices were down 0.8 per cent from the previous year, and 14.1 per cent lower than the peak in April 2013.

Meanwhile, the overall median transaction over X-value (TOX) was zero in June, an increase of S$1,000 from the previous month.

The median TOX measures whether people are overpaying (in the case of a positive TOX) or underpaying (when there is a negative TOX) relative to the SRX Property X-value estimated market value for flats.

Only four-room flats recorded a positive median TOX of S$1,000 in June. Three-room and executive flats saw a median TOX of negative S$3,000 and negative S$1,000 respectively, while the median TOX for five-room flats was zero.

The estate in which buyers paid the highest median TOX of S$18,000 was Bishan, followed by Jurong East at S$17,000.

Source: https://www.businesstimes.com.sg/real-estate/fewer-hdb-resale-flats-sold-in-june-srx

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