Resale price dipped slightly on a flat volume, median TOX still negative. | Singapore Property News

Resale price dipped slightly on a flat volume, median TOX still negative.

10 Feb 2015
Property News

SRX Property

  1. Non-landed Private Residential Resale prices dropped by 0.2%. Non-landed Private Residential Resale prices decreased 0.2% in January 2015 compared to December 2014. Prices in CCR and OCR dropped by 1.7% and 1.1% respectively. On the other hand, prices in RCR saw an increase of 1.5%.

Singapore Price Index: Non-landed Private Residential Resale prices dropped by 0.2% - Resale Price

Singapore Price Index: Non-landed Private Residential Resale prices dropped by 0.2% - Comparison by Region

According to the SRX Non-landed Private Residential Price Index:

  • Year-on-year, prices have dropped 6.5% from Jan 2014. Jan 2014 was also the period of the recent price peak.
  1. Resale volume remained low. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 370 Non-landed Private Residential units were resold in January 2015 , a slight 2% increase compared to 363 units resold in December 2014.

Singapore Price Index: Non-landed Private Residential Resale prices dropped by 0.2% - Resale Volume

  • Year-on-year, resale volume was 25.9% higher compared with 294 units resold in Jan 2014;
  • Resale volume is down 82.0% compared to its peak of 2,050 units resold in April 2010.
  1. Overall median Transaction Over X-Value (T-O-X) remained flat from the previous month at NEGATIVE 10,000. According to SRX Property, Non-landed Private Residential prices continue to face downward pressure and negative market sentiment. 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.

Singapore Price Index: Overall median Transaction Over X-Value (T-O-X) remained flat from the previous month at NEGATIVE 10,000

  • The median T-O-X remained at NEGATIVE $10,000 in January 2015, same as December 2014;
  1. Districts 11 and 12 posted high median T-O-X. For districts with more than 10 resale transactions in January 2015,  district 11(Watten Estate, Novena, Thomson) had the highest median T-O-X of $60,000, followed by district 12(Balestier, Toa Payoh, Serangoon) at $6000.

This means that majority of the buyers in these districts has purchased units above the computer-generated market value.

  1. Among relatively active districts, District 23, 15 and 18 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 23 (- Bukit Panjang, Choa Chu Kang) with T-O-X of NEGATIVE $31,000, followed by NEGATIVE $20,000 in district 15 (Katong, Joo Chiat, Amber Road) and district 18 (Tampines, Pasir Ris).

This means that majority of the buyers in these districts has purchased units below the computer-generated market value.

Singapore Price Index: Districts 9, 22 and 11 posted high median T-O-XOverall median Transaction Over X-Value (T-O-X) remained flat from the previous month at NEGATIVE 10,000 - TOX by Districts

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