Condo resale volume falls 9.7% to 952 units in July

Whilst resale prices dipped 0.5%.

Condo resale prices and volumes posted a decline in the month of July, SRX Property said in its latest market update.

According to SRX's figures, non-landed residential resale prices decreased 0.5% in July compared to the preceding month.

In individual sectors, both CCR and RCR recorded a price increase of 0.6% and 0.4% respectively, while OCR price index has decreased by 1.9%.

Resale prices recorded a 2% uptick compared to last year but were down 5% from the peak in January 2014.

Resale volumes declined 9.7%, with only 952 units resold compared to the 1,054 units recorded in the preceding month.

On a yearly basis, volume was 20.1% higher compared to 793 units resold in July 2016.

However, it was down 53.6% compared to its peak of 2,050 units resold in April 2010.