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SRX: Month-on-month rise in private home resale prices comes to halt
Resale prices of non-landed private homes in Singapore were unchanged in April from March, putting a stop to five straight months of month-on-month price rises, according to SRX Property's flash estimates released on Tuesday (May 9).
Resale prices of non-landed private homes in Singapore were unchanged in April from March, putting a stop to five straight months of month-on-month price rises, according toSRX Property's flash estimates released on Tuesday (May 9).
Its report also showed that the number of resale transactions fell 21 per cent in April from March. However, this came as sellers hiked their asking prices to above perceived market rates - the first time they have crossed that line in at least two years.
Going by location, the city fringes (rest of central region) and outlying areas (outside central region) recorded month-on-month price increases of 1.2 per cent, 0.1 per cent respectively, while the prime districts (core central region) saw prices decline 1.2 per cent.
Private resale prices rose an upwardly revised 0.8 per cent month-on-month in March, 1 per cent in February, 0.9 per cent in January, 0.3 per cent last December and 0.6 per cent last November.
Year-on-year, private resale prices last month were 1.8 per cent higher than in April 2016, though still down by 5.4 per cent from their recent peak in January 2014.
An estimated 907 units changed hands in April, down 21 per cent per cent from the 1,148 resale units for March.
Year-on-year, resale volume last month was 48 per cent higher compared to 613 units resold in April 2016. Resale volume was still down by 55.8 per cent compared to its peak of 2,050 units in April 2010.
SRX's overall median Transaction Over X-Value (TOX), which measures how far or below computer-generated market values units are actually going for, rose to S$5,000 in April from zero in March.
For districts with more than 10 resale transactions in April, district 16 (Bedok and Upper East Coast) and 21 (Clementi Park and Upper Bukit Timah) posted the highest median TOX of S$37,000.
Among relatively active districts, district 11 (Newton and Novena) posted the most negative median TOX of -S$40,000.