Resale prices of non-landed private homes in Singapore rose by 0.9 per cent in June from the previous month, led by the prime and suburban areas, according to flash estimates from SRX Property on Tuesday (July 11).
This was an improvement from the revised 0.5 per cent month-on-month price increase in May.
Despite the uptick, SRX said June's resale prices were still down by 4.4 per cent from its last peak in January 2014.
Condo resales prices in June rose by 2.2 per cent from the same month a year ago, it added.
June's price growth was driven mainly by the core central region, which saw a resale values rise by 1.3 per cent from May, and the suburbs which recorded a 1.1 per cent increase.
Resale prices in the city fringe remained unchanged in June, SRX said.
Its estimates showed that resale transaction volumes fell by 12.5 per cent to 1,065 units last month from the 1,217 shifted in May. But compared with a year ago, sales were up by a hefty 51.1 per cent from 705 units sold in June 2016.
SRX's median transaction over X-value (TOX) - which measures if buyers are overpaying or underpaying its computer-generated market value - came in at S$1,000 last month, down from S$2,000 in May.
The Newton and Novena areas posted the highest median TOX at S$40,000, while the Harbourfront and Telok Blangah districts recorded a negative TOX of S$120,000, which meant that most buyers in that district bought units below SRX's computer-generated value.
Source: SRX (11 Jul 2017)