SRX HDB price report for the month of January

SRX property residential singapore

SRX figures show that resale volume in the HDB market has dipped from 1,587 units transacted in Dec 2017 to 1,089 in Jan, based on flash estimates.

This represents a 31.4% decline, the largest in magnitude over the last 12 months.

The resale price index has also fallen to 132.6 in Jan 2018 from 133.2 in Dec 2017. This represents a month on month decline of 0.5%.

Compared to a year ago when the resale price index was 135.1, prices have fallen 1.9%.

The trend of declining HDB resale flat prices continues.

With prices and volume both declining, it likely suggests that weakness in the HDB resale market is set to continue.

Also read: Amber 45 condominium by UOL

Broken down by HDB flat types, prices in the HDB 3 room category fell the most at 2.3% on a monthly basis. This was followed by HDB 5 rooms at -1.2%.

On the other hand, HDB 4 rooms and executive flats rose 1.3% and 0.4% on a monthly basis respectively.

Categorized by mature and non-mature estates, mature estates saw a 1.8% monthly decline in the price index, compared with a 0.5% increase for non-mature estates.

SRX price index mature and non mature estates

SRX also has their Median HDB Transaction Over X-Value (TOX) metric which shows how much higher than the X-values flats have been transacting.

TOX is defined as: how much a buyer is overpaying or underpaying the SRX Property XValue’s estimated market value. It is analogous to the previously-used property market’s term of Cash-Over-Valuation (COV). The difference is the “V” is computer generated. In the report for HDB Resale and Non-Landed Private Resale, the SPI and the median TOX are used complementarily to gauge overall property market sentiments.

The TOX has slid further into negative territory at -S$3,000 compared with -S$2,900 in the previous month.

Through the whole of 2017, the TOX has been in negative territory except for 2017M3 and 2017M8 where the TOX was 0.

Also read: Cayman Residences at East Coast

The decline in TOX follows the general downward trend of SRX’s resale price index.

SRX’s full report for the month of Jan 2018 as follows.

View Fullscreen