The economic environment in Hong Kong continues to deteriorate. With the US interest rate hike and geopolitical factors, the property market has a strong wait-and-see atmosphere. The Central Plains City Leading Index CCL, which reflects second-hand property prices, was last at 170 points, down 0.36% week-on-week. Centaline analysis pointed out that this week's index did not fully reflect the market conditions after the interest rate hike, and it is believed that the decline in property prices will continue.
Eight major indexes fell seven and one rose
Huang Liangsheng, senior co-director of Centaline Property Research, pointed out that before the US interest rate meeting on September 22, the market had a strong wait-and-see atmosphere, and the four major overall property price indexes fell together. Among them, CCL fell 0.36% week-on-week, and did not fully reflect the market conditions after the interest rate hike. It is believed that the property price adjustment has not ended, and the decline continues. In addition, the leading index of large housing estates CCL Mass reported 170.15 points, down 0.34%. CCL (small and medium-sized units) was at 168.35 points, down 0.39%. CCL (large units) was at 178.1 points, down 0.24%.
Huang Liangsheng said that CCL's short-term target is to test 160 points by the end of 2022, which is 10 points or 6.25% lower than the current one. The HKMA has relaxed the stress test, the government has gradually relaxed a number of measures against the epidemic, and it is rumored that the policy address next Wednesday (19th) will conditionally relax the BSD and other news, the impact on property prices will be reflected in the CCL in the next few weeks. It remains to be seen whether the trend of property prices will change from consecutive declines to repeated declines.
In terms of the four districts, the New Territories East property price index reported 179.33 points, a 192-week low, returning to the level in February 2019, down 0.42% week-on-week, and fell 3.63% for 4 consecutive weeks. The bank expects New Territories East to be the third index to return to its 2019 low after Kowloon and Hong Kong Island, and is now only 3.07 points or 1.74% behind.
As for the Kowloon Index, it reported 162.46 points, down 1.21% on a week-on-week basis. The Hong Kong Island Index was at 173.18 points, down 0.32% on a weekly basis, ending a two-week winning streak. The New Territories West Index reported 160.73 points, up 0.89% on a week-on-week basis, recovering after falling for 4 consecutive weeks.
The performance of the agent's appointment for a flat inspection varies
The policy address will be announced next Wednesday, and the performance of the agency banks' reservations for property inspections this weekend varies. According to the statistics of Midland Property Branch, this weekend (15th to 16th), the number of reservations for property inspections in 15 indicator housing estates recorded about 469 groups, a continuous increase of about 3.1% on a weekly basis. Bu Shaoming, chief executive of the bank's residential department (Hong Kong and Macau), said that the policy address will be announced next Wednesday, and the first-hand properties are "waiting for good news". No new properties will be launched this weekend. rise.
However, the number of appointments for property inspection in the top ten housing estates of Centaline Properties recorded 475 units this weekend, a slight decrease of 3.7% on a week-on-week basis. Chen Yongjie, vice chairman of the Asia Pacific region and president of the residential department of Centaline Real Estate, believes that the new policy address will be officially announced next week, and people from all walks of life will pay close attention to whether the government's announcement of a series of measures to attract talents will include reducing spicy food. Pretty sticky.
