Condo resale: prices increase, volume drops in June

Resale prices of non-landed homes in June increased around 0.2 per cent from the month before; meanwhile, volumes tumbled 25.5 per cent, according to the latest flash estimates by real estate portal SRX Property.

Prices have risen 3.8 per cent from the first quarter of this year. Year-on-year, prices last month were 10.6 per cent higher than in June 2017. The quarterly results are based on an index average of three months in the second quarter of 2018 and that of the preceding quarter, prices have risen 3.8 per cent from the first quarter of this year.

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The core central region (CCR) and outside central region (OCR) recorded a price increase of 0.1 per cent and 0.4 per cent respectively, when compared to the month of May. In the rest of central region (RCR) prices have remained unchanged. CCR, RCR, and OCR recorded a year-on-year price increase of 10.9 per cent, 11.6 per cent, and 9.4 per cent respectively from the previous year.

The TOX value measures how much a buyer is overpaying or underpaying on a property. The prices are based on SRX Property's computer-generated market value.

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Overall median Transaction Over X-Value (TOX) was positive $17,000 in June 2018, a decrease of S$1,000 comparing to positive S$18,000 TOX for May. District 21's Upper Bukit Timah and Ulu Pandan posted the highest TOX among districts with more than 10 resale transactions, of positive S$70,000, which suggests that most of the buyers in that specific district purchased units above the value that is projected by the computer-generated market price.

District 26's Upper Thomson, Springleaf posts the most negative median TOX at S$12,000 among relatively active districts, meaning that most of the buyers in that district purchased units below the computer-generated market value.

 

Source 

Condominium and HDB rents fell in Singapore