The poor estimate of the property price index ended 5 consecutive losses
Since the beginning of this year, the property market has clearly improved, and property prices have bottomed out. The overall private residential price index of the Rating and Valuation Department (hereinafter referred to as the Rating and Valuation Department) has fallen for five months since August last year. It has finally rebounded in January this year, at 359.5, a slight rebound of 0.08 from December last year. %, while large unit gains outperformed small and medium-sized homes.
However, the rent has not improved, and for three consecutive months, the overall private residential rent index was last reported at 192.3, down 0.67% month-on-month.
Rebounded 0.08% in January, led by large units
According to the latest data released by the Department of Differential Assessment, the overall private residential price index continued to fall from August last year to December, which was about 9%. The property market was launched in January this year, which led to a full-line sales index for all types of residential properties. Pushing the overall private residential price index rose slightly by 0.08%, ending the five-day losing streak.
However, the rebound in the property price index is different from that of small and medium-sized residential buildings in the past. On the contrary, the increase in large units is more significant. Among them, the E-type units with a usable area of 1722 square feet or more performed the most, with the index reported 313.7, up 1.46% from 309.2 in December last year; and the D-class utility area from 1076 square feet to 1721 square units, the price index It also rose by 1.29% month-on-month.
For small and medium-sized units, the C-class unit with a usable area of 753 to 1075 square meters, the January index rose 0.28% month-on-month.
For Class A units with a saleable area of less than 430 square feet and Class B units with 431 square meters to 752 square meters, the overall price increase underperformed the overall index, up 0.05% and 0.03% respectively.
On the other hand, the overall private residential rent index fell by 0.67% in January this year, falling for three consecutive months, plunging 2.68%.
Among the various types of units, the rents of Class D and Class E units rebounded after two consecutive losses, which were 0.19% and 0.81% higher respectively. The rents of small and medium-sized units fell across the board from 0.19% to 1.04%.