The resale prices for non-landed private residential flats inched up in May, with resale volume also increasing, according to estimates released by SRX Property on Thursday (Jun 9).
On a month-on-month basis, resale prices were up 0.4 per cent last month. Compared to a year ago, prices increased by 0.2 per cent.
In individual sectors, the Core Central Region and Rest of Central Region posted a year-on-year price increase of 4.7 per cent and 0.6 per cent respectively, while the Outside Central Region recorded a year-on-year price decrease of 2.0 per cent.
An estimated 840 non-landed private residential units were resold in May, which is an increase of 35.7 per cent compared to the 619 units resold last month.
The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, fell to -S$8,000, compared to a S$1,000 increase in April.
For districts with more than 10 resale transactions in May 2016, District 11 (Watten Estate, Novena, Thomson) posted the highest median TOX at S$16,000. The lowest median TOX was at District 17 (Changi, Loyang), which posted a TOX of -S$36,000.
Source : Channel NewsAsia – 14 Jun 2016