HDB resale price inched 1.1% higher to $460,000

While rents stood pat at $2,400.

According to SRX, overall HDB Cash-Over-Valuation (COV) dropped $1,000 to end at $31,000. This was the lowest monthly COV in the last 6 months.

On a quarterly basis, HDB median COV dropped $1,000 to end at $33,000, indicating the first drop since the beginning of 2012.

Among the flat types/HDB towns which saw at least 10 resale transactions in the first three months of 2013, the highest median COV of $86,000 was registered by Hougang's executive-type flats.

Here's more from SRX:

Despite lowering COVs, overall median resale price rebounded to $460,000 in March, up 1.2% from previous month's $454,500,

On a quarterly basis, overall median resale price gained by 1.1% to end at $460,000 in 1Q 2013.

Overall HDB median rents have been kept constant at $2,400 on both monthly and quarterly basis.