RESIDENTIAL PROPERTY | Staff Reporter, Singapore

HDB resale volume plummeted 18.6% in August

Prices barely inched up by 1%.

HDB resale volume fell by 18.6%, as 2,076 HDB resale flats were sold during the month compared to 2,550 units in July. Compared to last year, resale volume jumped 6.1%, SRX Property revealed.

According to an announcement, HDB resale prices inched up by 0.1% compared to July but dipped 1.7% compared to last year.

HDB Executive recorded a price increase of 3.5%, whilst HDB 3 Rooms, HDB 4 Rooms, and HDB 5 Rooms prices dipped by 0.4%, 0.2% and 0.1% respectively. Prices in mature estates rose by 0.1%, whilst those in non-mature estates stayed flat.

SRX Property also found out that majority of resale transactions were neither overpaid nor underpaid their market value as the overall median Transaction Over X-Value (T-O-X) is ZERO $0 in August.

Median T-O-X for HDB 3 Rooms, 4 Rooms, 5 Rooms, and Executive flats were NEGATIVE $1,000, POSITIVE $1,000, NEGATIVE $2,100 and POSITIVE $14,000 respectively.

For HDB towns having more than 10 resale transactions with T-O-X in August 2018, Kallang/Whampoa posted the highest median T-O-X of POSITIVE $14,000, followed by Punggol and Queenstown at POSITIVE $6,000.

Ang Mo Kio posted the lowest median T-O-X at NEGATIVE $7,000, followed by Toa Payoh at NEGATIVE $6,000.

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