2024-05-20 28Hse Editor
The SAR government has gradually relaxed the epidemic prevention measures, coupled with the start of the first phase of customs clearance and the stock market is booming, the second-hand property market is recovering rapidly, and the gap between property prices and bank valuations is gradually narrowing. Some real estate agents boldly predict that the property market has "bottomed out". will rise further. The Central Plains City Leading Index CCL, which reflects second-hand property prices, was last reported at 158.23 points, a weekly increase of 0.64%, the largest single-week increase since October 2022 (nearly 14 weeks). According to Centaline analysis, CCL has risen by 1.19% for 3 consecutive weeks, confirming that property prices have bottomed out and stabilized. CCL got rid of the low of 156.37 points three weeks ago, and it is expected to return to the 160-point level after the Spring Festival. ◆reporter Li Zitian
Property prices in the four districts rose three times and fell one, with property prices in the Hong Kong and Kowloon urban areas leading the rise, all rising for three weeks. The property price index on Hong Kong Island reported at 158.95 points, up 1.52% on a weekly basis, the largest increase since May 2022, and a total of 2.15% for three consecutive weeks. The Kowloon property price index closed at 153.54 points, up 0.81% week-on-week, rising 2.47% for 3 consecutive weeks.
The New Territories West property price index closed at 146.37 points, up 0.97% on a weekly basis, ending a three-week losing streak. The New Territories East property price index reported at 170.43 points, down 0.58% week-on-week, and softened after rising for two consecutive weeks. In the past 3 weeks since property prices bottomed out, New Territories East property prices have risen by 1.54% and New Territories West property prices have fallen by 0.12%.
Urban property prices rose for 3 weeks
The leading index of large housing estates, CCL Mass, reported 158.34 points, up 0.78% on a weekly basis, the largest increase since June 2022, and a total of 1.61% for three consecutive weeks. CCL (small and medium-sized units) reported 156.58 points, a weekly increase of 0.77%, the largest increase since June 2022, and a total of 1.44% for three consecutive weeks. CCL (large unit) closed at 166.37 points, up 0.1% on a week-on-week basis and up 0.15% in the past three weeks.
Huang Liangsheng, senior co-director of Centaline Real Estate Research Department, pointed out that CCL's latest price was 158.23 points, a weekly increase of 0.64%, the largest single-week increase since October 2022 (nearly 14 weeks). Since the beginning of December last year, the government has gradually relaxed the epidemic prevention measures, and Hong Kong is moving towards normalcy. CCL has risen by 1.19% for 3 consecutive weeks, which is a reappearance after January 2022. It is confirmed that property prices have bottomed out and stabilized. CCL got rid of the low of 156.37 points three weeks ago, and it is expected to return to the 160-point level after the Spring Festival.
Bank valuations tend to be optimistic
As property prices continue to rise, the gap between property prices and bank valuations continues to narrow. Lin Jiawu, director of the data analysis department of Xiangyi Real Estate, said that the latest issue (January 5 to January 11) reflects the gap between property prices and bank valuations. Xiangyi Mortgage Valuation Index "recorded -0.18 points, compared with -0.19 points in the previous period (December 29 to January 4), an increase of 0.01 points on a weekly basis. The distance between the index gradually narrowed, and the level of the index in the last three months reflects the valuation attitude of the bank.Continue to be optimistic.
Earlier, many homebuyers worried that banks would reject mortgage applications due to insufficient valuations. Lin Jiawu pointed out that the transaction prices in the past year were often lower than the bank's valuation line, reflecting the smooth mortgage situation in Syria. According to the latest data from the Hong Kong Monetary Authority as of November 2022, the average residential mortgage ratio in Hong Kong is 55.2%, reflecting that buyers entering the market generally have considerable strength and financial stability. Prospective buyers of mortgages are advised to do mortgage consultation first.
Amid the positive sound of the property market, those who intend to buy properties are becoming more active, and the number of property inspections continues to increase. According to the statistics of Midland Realty Branch, on the last Saturday of the Year of the Tiger (January 14-15), the number of appointments for 15 index housing estates recorded about 543 groups, a slight increase of about 0.7% compared with last Saturday and Sunday. Up to 8 Saturdays and Sundays.
Appointments for property inspections continue to rise
Bu Shaoming, Chief Executive Officer (Hong Kong and Macau) of the Residential Department of Midland Realty, said that due to the emergence of good news in the market, the first phase of customs clearance in the Mainland and Hong Kong has resumed and economic activities have resumed, and it is expected that the rise in interest rates will slow down, so although the Lunar New Year As the festive atmosphere in the market is getting closer, many citizens are busy buying new year's goods to welcome the new year. It is expected that many potential buyers will continue to seize the opportunity to look for bamboo shoots this Saturday and Sunday. As the public's desire to buy properties continues to increase, it will drive the Spring Festival The number of appointments for property inspections on the previous Saturdays and Sundays remained active.
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