RESIDENTIAL PROPERTY | Staff Reporter, Singapore

HDB resale prices dip for the first time in seven months

It slipped 0.5% in January 2016.

HDB resale prices have dropped for the first time in seven months. According to the SRX Property Price Index for HDB Resale, resale prices dipped 0.5% in January, compared to December 2015, marking the first pullback since July 2015.

HDB 3-room and 4-room flats slipped 0.5% and 0.4% respectively. On the other hand, resale prices of 5-room units and executive flats inched up 0.2% and 1.4% respectively.

On a YoY basis, prices have decreased slightly by 1.3% from January 2015, and declined by 11.1% since its April 2013 peak. Meanwhile, no revision was recorded in December 2015.

According to the SRX Property Price Sub-indices for HDB Resale, HDB resale prices in January 2016 dipped 0.5% in both mature and non-mature estates as well. In YoY terms, prices in both mature and non-mature estates showed a marginal decrease of 1.2% from January 2015.

Meanwhile, resale volume sank in the first month of 2016 as 1,286 HDB resale flats were sold. This translates to an 8.6% decrease from December 2015’s 1,407 transacted units. In YoY terms, resale volume inched up 2.6% compared to 1,254 units resold in January 2015. It also posted a 64.8% crash compared to its peak of 3,649 units in May 2010. 

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