Wong Leung-sing, senior co-director of Centaline Property Research, pointed out that in 2022, CCL fell by 15%, with the decline mainly in the third quarter (down 6.62%) and the fourth quarter (down 7.43%), and property prices fell by 13.55% in two quarters, reflecting that the decline in property prices in Hong Kong began to accelerate after the United States extended the interest rate hike to 0.75% for the first time in June.

But into December, the market rumor that the United States slowed down the pace of interest rate hikes, property prices have narrowed the decline, CCL from November fell 3.49%, narrowed to December only fell 1.5%.

In the past 3 weeks, CCL has continued to rise one week and fall one week, and the trend of property prices has clearly changed from a series of declines to a repetitive downward trend.

Centaline Property expects that the positive factors such as the imminent resumption of customs clearance and the Government's optimised anti-epidemic policy will only start to be reflected in the CCL to be announced in late January 2023.

Separately, CCL Mass, the leading index for large urban estates, was at 156.31 points, up 0.31% week-on-week and continuing at the April 2017 level.

CCL (Small and Medium-sized Flats) was at 154.74 points, up 0.25% week-on-week, also at the April 2017 level, while CCL (Large Flats) was at 166.66 points, up 0.33% week-on-week, at the February 2018 level.

In terms of official sale and purchase agreement dates, CCL Mass fell by a total of 16.08% for 2022 as a whole, with CCL (small and medium units) shrinking by 15.99% and CCL (large units) falling by 10.60%.

By region, Hong Kong Island, Kowloon, New Territories East and New Territories West fell by 17.37%, 15.73%, 15.8% and 15.48% respectively for the year.