Yet another pullback: HDB resale prices hit 31-month low in August

But 5-room flats and ECs bucked the trend.

HDB resale prices dropped for the seventh consecutive month in August, posting a 1.1% month-on-month decline. According to the Singapore Real Estate Exchange, 3 and 4 -room flats drove the overall index down with declines of 2.0% and 0.9%, respectively, while 5 - Room and Executive prices increased 0.8% and 1.5%, respectively.

Year-on-year, prices have dropped 7.1% from August 2013 marking a new 31-month low since January 2012.
Prices have declined 8.6% since the peak in April 2013, August 2014 prices

According to HDB resale data compiled by SRX Property, 1,327 HDB resale flats were sold in August, a 1.1% decrease from 1,342 transacted units in July.

Year-on-year, resale volume dropped 3.3% down compared with 1,372 units resold in August 2013. Compared to its peak of 3,649 units in May 2010, resale volume is down 63.6% compared.

Meanwhile,. an estimated 1,550 HDB flats were rented in August 2014. In comparison, 1,548 units were rented in July 2014. Year-on-year, rental volume in August 2014 is 10.7% higher compared with 1,400 units rented in August 2013.

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