Observations:
- Non-landed Private Residential Resale prices slipped. Non-landed Private Residential Resale prices slipped by 0.7% in April 2015 compared to March 2015. In individual sectors, both CCR and OCR saw price decreases of 0.1% and 1.5% respectively, while prices in RCR increased by 0.4%.
According to the SRX Non-landed Private Residential Price Index:
- Year-on-year, prices have dropped 4.0% from April 2014;
- April 2015 prices were down 6.9% from the recent peak in January 2014.
- Price change in March has been revised from a 0.2% decrease to a 0.4% decrease.
- Resale volume slipped slightly. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 440 Non-landed Private Residential units were resold in April 2015 , a slight 2.7% decrease compared to 452 units resold in March 2015 .
- Year-on-year, resale volume was 1.9% higher compared with 432 units resold in April 2014;
- Resale volume is down 78.5% compared to its peak of 2,050 units resold in April 2010.
- Overall median Transaction Over X-Value (T-O-X) reached zero. According to SRX Property, the median T-O-X for Non-landed Private Residential reached a neutral level in April 2015. The median T-O-X for Non-landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.
- The median T-O-X has improved $10,000 from March 2015 to reach $0 in April 2015.
- District 16 posted highest median T-O-X. For districts with more than 10 resale transactions in April 2015, district 16 (Bedok, Upper East Coast) had the highest median T-O-X of $20,000.
This means that majority of the buyers in this district has purchased units above the computer-generated market value.
- Among relatively active districts, District 15 posted the most Negative median T-O-X. Among districts with more than 10 resale transactions, the lowest median T-O-X was in district 15 (Katong, Joo Chiat, Amber Road) with T-O-X of NEGATIVE $21,000.
This means that majority of the buyers in these districts has purchased units below the computer-generated market value.
Posted on 12 May 2015
Source: SRX