If we compare the Housing Board resale flats sale of the June month to May; the prices have gone up by a certain extent, and the sales went down.
Note that, in the month of May, 2076 HDB flats were transacted as per the fresh estimates available on the SRX real estate portal; the sales in the June month went down by almost 8.7 percent as only 1895 HDB resale flats were sold.
The resale volume for these flats, as compared to the same month of the previous year, went down by 4.8 percent 1991 resale HDB were successfully sold at that time.
On the other side, if we talk about the resale prices, they went up by 0.1 percent from the month of May to June. For the executive flats, five-room, and three-room accommodations; the prices increased by 1.4%, 0.3%, and 0.6%. However, the price tag for four-room flats reduced by 0.3 percent.
Looking at the mature states, the prices rose by 0.4% but in the case of the non-mature estates; it shows a fall of 0.1% as compared to the month of May.
As per the SRX property price index, if we compare the prices of flats to the month of June in the previous year, the prices by this year went down by 0.8%; however, it was 14.1% lesser than the peak prices in the year of 2013, April.
Christine Sun, the head of research and consultancy at Orange Tea & Tie observed that this drop in the resale volume was already expected; it is just because the real estate activities usually go down during the school holidays. She also added that the sales volume might rise in the few coming months because the minimum five-year occupation period for most flats is about to complete.
Ms. Sun also revealed that there are few chances to observe some positive influence from major policy changes that allow homebuyers to use their CPF for buying old HDB flats. While talking about the 0.1% rise in the resale prices; she also said that it is just like a blip. The chances are that the repeated 0.8% fall in the prices year after year may better handle the broader price weaknesses as reported on the grounds.
With an estimated rise of $1000 from the last month, the overall median TOX (Transaction over X-value) was observed to be zero in the month of June.
Note that, the median TOX value, in this case, reflects a measure of whether people are underpaying (negative TOX) or overpaying (positive TOX) as compared to the market value estimated by SRX Property X-value that was previously estimated for these flats.
As per the reports obtained from the previous month, only four-room flats reflected positive TOX of the estimated value of $1000. On the other side, the TOX for the executive flats and three-room flats was negative with the value of $1000 and $3000 respectively. However, for the five-room flats, it was zero.
The highest median TOX was reported to be somewhere around $18000.