Last month’s rise reversed a 0.7 per cent month-on-month drop in October, which was the fourth straight month of decline.
But resale prices in November were down 1 per cent from the same month last year and 8.3 per cent below the peak in January 2014, flash estimates from SRX Property showed. Upcoming new launch condo include The Tapestry , The Jovell, Park Colonial, The Opus, Amber 45, Jui Residences, 33 Residences , 8 Hullet, Parkwood Residences, The Verandah Residences, Parc Botannia, Sengkang Central condo while existing ones include Rezi 35, Carpmael Thirty Eight , Fivenine, Sixteen35 Residences and Kandis Residence Kingsford Waterbay, Seaside Residences and Grandeur Park Residences.
Prices in the city fringe were down 1.5 per cent year-on-year while those in outlying districts fell 2.6 per cent. Resale values in prime districts were up 2.3 per cent last month from the same month last year.
The number of resale transactions fell 8.8 per cent to 581.
Resale volume was 21.3 per cent higher than the 479 deals in November 2015, but down 71.7 per cent on the 2,050 units resold in the peak month of April 2010.
Sellers last month continued to offload homes below the estimated computer-generated market value, but the margin narrowed significantly.
SRX’s median Transaction Over X-Value (TOX) in November was -$3,000 compared with -$10,000 in October.
For districts with more than 10 resale transactions last month, district 4 (Mount Faber, Telok Blangah, Harbourfront) posted the highest median TOX of +25,000.
Among relatively active districts, 22 (Boon Lay, Jurong, Tuas) and 27 (Sembawang, Yishun, Admiralty) had the most negative median TOX of -$20,000.