The Housing Board resale market continued its long stagnation last month, with prices falling 0. 6 per cent and virtually no change to the number of flats changing hands, according to SRX Property flash figures yesterday.
June’s dip was in contrast to a marginal 0. 2 per cent rise in May, but housing specialists said that the overall picture remains one of stability.
ERA Realty key executive officer Eugene Lim said: “Monthly price movements are to be expected, and this is not really a cause for concern. Nor is it a sign that the price decrease will speed up. ”
He expects a “very minimal” full-year price fall of 0. 5 per cent.
Another analyst said that June’s dip can be seen as more of a mini correction following the slight price increase in May.
He expects prices to be flat intended for the year, assuming that long-term cooling measures are not relaxed.
The overall price fall last month was led by prices falling 0. 7 per cent intended for three-room flats and 0. 8 per cent for five-room flats. This more than made up for the unchanged prices of four-room flats and a 0. 1 per cent rise in executive smooth prices.
The fall was for flats across both mature and non-mature estates, with prices falling 0. 7 per cent and 0. 5 per cent respectively.
The resale volume also stayed at flat, with 1, 823 units distributed last month, nearly as good as the you, 826 equipment sold in May well.
The market can be traditionally hushed during the 06 school getaways, and this is yet another reason to never be concerned by the selling price fall.
All of us usually should read excessive into the selling price statistics in periods just like June, 12 , and March, where institution holidays or perhaps festive times result in slowdowns in marketplace activity, stated a adviser.
In any case, resell deals had been still up from this past year – there initially were 1, 709 units re-sold in 06 last year.
This may be due to steady prices, stated Mr Lim.
“Prices have been completely falling for over two years and buyers who have got urgent real estate needs will be more confident to look to the resale marketplace, ” this individual noted.