Centaline Property Research Senior Co-Director Wong Leung-sing pointed out that after the interest rate hike in November, this week the Centaline Brokerage Index CSI (residential sales price) was below 30 points for 2 consecutive weeks, and the Centaline Valuation Index (major banks) CVI was also below the trough of 10 points for 7 consecutive weeks.

The continued low level of both indices also indicates that the fall in property prices has not yet stopped, and the CCL fall is likely to further expand.

The market situation after the interest rate hike on November 3 will be reflected in the CCL to be released 2 weeks later (i.e. late November).

The bank estimates that the short-term downgrade target for CCL is 160 points. And CCL (small and medium-sized units) will be the first to test the low 160 points, is the first of the four overall indices to reach.

Property prices continue to move downward, the three overall indices fell for 5 weeks, CCL fell 3.42%, CCL Mass fell 3.45%, CCL (small and medium-sized units) fell 3.57%.

Among them, CCL (small and medium-sized units) is the closest to the target low of 160 points, now only 2.97 points or 1.86% difference.

CCL difference of 4.78 points or 2.99%. CCL Mass difference of 4.83 points or 3.02%.

New Territories West property prices fell significantly. This week, New Territories West CCL_Mass fell below its own low in 2019 and was the last four-district index to fall below the low.

New Territories West CCL_Mass reported 152.23 points, a new low of 251 weeks, returning to the level of January 2018, down 2.93% by week, the largest decline in 10 weeks, a total of 5.62% for 2 consecutive weeks.

The remaining three districts property prices rebounded slightly in a single week, but the downward trend remained unchanged.

New Territories East CCL_Mass reported 177.16 points, the second lowest in 197 weeks, up 0.95% week-on-week.

Hong Kong Island CCL_Mass reported 169.11 points, the second lowest in 262 weeks, up 1.28% in a single week after 4 consecutive weeks of decline.

Kowloon CCL_Mass is at 157.43 points, the second lowest in 262 weeks, up 0.40% after 4 consecutive weeks of decline.