HDB resale volume slumps 9.2% in July: SRX Property

After hitting a two-year high in June, the resale volume of Housing and Development Board (HDB) flats slumped 9.2 per cent in July, according to flash estimates released by SRX Property on Thursday (Aug 6).

A total of 1,552 HDB resale flats were sold last month, down from the 1,709 transacted units in June. However, compared to a year ago, resale volume was up 15.6 per cent.

Resale prices fell 0.5 per cent in July after four consecutive months of increase. Prices of three-room flats remained flat, while prices of four-, five-room and executive flats fell 0.7 per cent, 1.2 per cent and 0.9 per cent, respectively.

Overall resale prices were down 4.3 per cent compared to a year ago, SRX Property said.

TOX TURNS NEGATIVE

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, fell from S$1,000 in June to -S$1,000 last month.

For HDB towns with more than 10 resale transactions in July, Bukit Merah posted the highest median TOX of S$6,000, followed by Ang Mo Kio with S$4,000. The lowest median TOX were in Pasir Ris and Bukit Panjang with -S$11,000 and -S$6,700, respectively.