The Centaline City Leading Index (CCL), which reflects secondary property prices, was last quoted at 164.23 points, a new high in the past four months, up 0.55% week-on-week and 2.65% for the second consecutive week. Among them, Hong Kong and Kowloon urban areas led the market to rise, up nearly half a percent in each of the two weeks.
Centaline's analysis shows that this week's gains have narrowed, with large and small increases, but the trend continues to move upwards, with CCL only 5.77 points or 3.51% short of its short-term target of 170 points, which is believed to be reached around Easter.
Centaline Property Research Senior Co-Director Wong Leung-sing pointed out that the latest CCL was 164.23 points, a new 16-week high, up 0.55% week-on-week and up 2.65% for 2 consecutive weeks.
This week, the four broad indices CCL, CCLMass, CCL (small and medium-sized units) and CCL (large units) all rose for two weeks, the first time since May 2022. Reflecting the seasonal boom after Chinese New Year, secondary transactions continued to be active and property prices rose significantly.
The CCL is only 5.77 points or 3.51% short of its short-term target of 170 points, which is believed to be reached around Easter.
The impact of the government's withdrawal of the muzzle order from 1 March on Hong Kong property prices will only begin to be reflected in the CCL to be announced in late March.
Based on the nearly 10 weeks of property price rebound from the trough, CCL rose 5.03% cumulatively, CCLMass rose 5.99%, CCL (small and medium-sized flats) rose 6.02% and CCL (large flats) rose 0.62%. In the four districts, Hong Kong Island rose by 8.15%, Kowloon by 7.87%, New Territories East by 4.06% and New Territories West by 2.50%. Property prices in urban Hong Kong and Kowloon clearly outperformed the market and the two New Territories regions.
On the other hand, agency data showed that the number of second-hand appointments for viewing properties rose. According to statistics from Midland Realty branches, the number of bookings for 15 target estates in the first weekend of March (March 4-5) was about 475, up about 8% from the previous weekend and a seven-week high, reflecting the continued warming of the secondary market.
