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Thread: Resale prices for HDB flats up slightly: SRX Property

  1. #1
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    Default Resale prices for HDB flats up slightly: SRX Property

    http://www.straitstimes.com/singapor...y-srx-property

    Resale prices for HDB flats up slightly: SRX Property

    Oct 7, 2016

    Jalelah Abu Baker


    Resale prices for Housing Board (HDB) flats increased marginally by 0.1 per cent in September over the previous month, with observers saying that this points to a stabilised market.

    While three-room and executive flats were sold at lower prices, overall prices were nudged upwards by a 0.8 per cent increase in the prices of four-room flats and a 1.2 per cent rise for five-room flats.

    Last month, 1,666 resale flats were sold, according to latest flash figures from SRX Property released yesterday.

    This is an 11.3 per cent fall from the previous month and 10.8 per cent year on year.

    Mr Donald Yeo, head of agency at real estate firm DWG, said: "What we don't want is for prices to go up too much, or go down too much."

    The fall in resale flat volume may simply mean that buyers have opted for other options like Build-To-Order flats and private homes, he said.

    Last month's resale prices are a 0.4 per cent drop over the same month last year. Resale prices have fallen by 11.4 per cent since a peak in April 2013.

    According to the SRX Property data, in September this year, HDB resale prices in mature estates fell by 0.2 per cent, while those in non-mature estates increased 0.4 per cent.

    Flash estimates released by the HDB on Monday showed that its resale-flat price index remained the same in the third quarter of this year over the previous quarter.

    PropNex Realty chief executive Ismail Gafoor said the latest SRX figures are in line with market movement over the year.

    The year-on-year fall in resale prices has declined from 6 per cent in 2014, to 1.6 per cent last year to less than 1 per cent in the first nine months this year, he noted.

    "It's a good time for people to enter the market. This is a period where sellers can look out for an upgrade opportunity, and buyers may be able to find good buys," he said.

    Waiting further may not mean prices will fall further, he added, as they are falling in a way that is "insignificant".

    In fact, he said prices may rise 1 to 2 per cent next year, "keeping pace with inflation as demand goes up".

    Mr Jason Fu, 28, a graphic designer, who wants to buy a resale flat with his girlfriend, said the figures may prompt him to start looking seriously.

    "An increase of 0.1 per cent isn't significant compared with a potential 1 to 2 per cent increase next year. This may be the best time to buy."

  2. #2
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    Default HDB resale flat prices inch up 0.1% month on month in Sept: SRX

    http://www.businesstimes.com.sg/real...th-in-sept-srx

    HDB resale flat prices inch up 0.1% month on month in Sept: SRX

    Oct 7, 2016


    SRX Property's price index for Housing & Development Board (HDB) resale flats crept up 0.1 per cent month on month in September based on SRX's flash estimate released on Thursday.

    This contrasts with a 0.7 per cent month-on-month fall in August.

    The index for last month was down 0.4 per cent year on year and also 11.4 per cent below the peak in April 2013.

    According to data compiled by SRX Property, the volume of HDB resale transactions in September shrank 11.3 per cent to 1,666 resale flats from 1,879 flats in the preceding month. However, on a year-on-year comparison, last month's resale volume was up 10.8 per cent from the 1,504 flats resold in September 2015.

    Last month's transaction volume was down 54.3 per cent from the May 2010 peak of 3,649 flats.

    SRX Property's sub-index for HDB resale flat prices in mature areas dipped 0.2 per cent month on month in September, while in non-mature areas, prices appreciated 0.4 per cent over the same period.

    Year on year, however, prices have advanced 0.4 per cent in mature estates but retreated one per cent in non-mature estates.

    PropNex Realty CEO Ismail Gafoor noted that the official HDB resale flat price index for each of the first three quarters of this year has hardly changed compared with Q4 2015.

    "Coming after declines in the official index of 1.6 per cent last year and 6.0 per cent in 2014, this is a clear indication that we are reaching the bottom and prices are stabilising. For the whole of this year the decline, if there is any, will be within one per cent and there is a likelihood next year we may see a marginal one to 2 per cent rise in the price index."

    The current stable price environment is giving potential buyers greater confidence to commit to a purchase.

    Said Mr Ismail: "We are seeing more newly married couples coming into the resale market knowing that prices are stable, not fearing there will be a further price drop (after they have bought).

    "From a seller's perspective, the stable market allows forward-planning in either upgrading or downsizing."

    For the whole of this year, he predicts that the number of HDB resale applications will cross 20,000 - for the first time since 2012.

    OrangeTee's head of research and consultancy Wong Xian Yang does not expect a quick recovery in HDB resale flat prices - as the economic outlook remains dim and the supply of new Build-To-Order flat launches by the HDB is expected to remain healthy.

    "However resale flat prices are expected to remain near current levels, as the resale market enjoys relatively inelastic demand from owner occupiers. The market is likely to continue to trend sideways, with slight fluctuations in both directions," he predicts.

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