SRX figures show that resale volume in the HDB market has dipped from 1,587 units transacted in Dec 2017 to 1,089 in Jan, based on flash estimates.

This represents a 31.4% decline, the largest in magnitude over the last 12 months.

The resale price index has also fallen to 132.6 in Jan 2018 from 133.2 in Dec 2017. This represents a month on month decline of 0.5%.

Compared to a year ago when the resale price index was 135.1, prices have fallen 1.9%.

The trend of declining HDB resale flat prices continues.

With prices and volume both declining, it likely suggests that weakness in the HDB resale market is set to continue.

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Broken down by HDB flat types, prices in the HDB 3 room category fell the most at 2.3% on a monthly basis. This was followed by HDB 5 rooms at -1.2%.

On …