According to the SRX Non-Landed Private Residential Price Index:
- Year-on-year, prices in May 2017 increased by 1.5% from May 2016. In individual sectors, CCR, RCR recorded a year-on-year price increase of 3.5% and 2.3% respectively, while OCR recorded a year-on-year price decrease of 0.2%.
- May 2017 prices were down by 5.2% from the recent peak in January 2014.
- Year-to-date, prices increase by 2.1% in comparison to January 2017.
- Price change in April 2017 was revised from 0.0% to -0.2%.
2. Resale volume increases by 17.4%. According to Non-Landed Private Residential Resale data compiled by SRX Property, an estimated 1,235 Non-landed Private Residential units were resold in May 2017. This is a 17.4% increase compared to 1,052 units resold in April 2017.
- Year-on-year, resale volume in May 2017 was 57.7% higher compared to 783 units resold in May 2016;
- Resale volume was down by 39.8% compared to its peak of 2,050 units resold in April 2010.
3. Overall median Transaction Over X-Value (TOX) is $2,000 in May 2017. 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 in May 2017 is $2,000. This is a $3,000 decrease compared to $5,000 in April 2017.
4. Districts 4 post highest median T-O-X. For districts with more than 10 resale transactions in May 2017, District 4 (Harbourfront and Telok Blangah) posted the highest median T-O-X at POSITIVE $60,000.
This means that a majority of the buyers in those districts purchased units above the computer-generated market value.
5. Among relatively active districts, District 17 posts the most negative median T-O-X. District 17 (Changi) posted a T-O-X of NEGATIVE $21,000.
This means that a majority of the buyers in these districts purchased units below the computer-generated market value.
Source: SRX (13 Jun 2017)