The property market rose in the past year and then fell, but it is still able to maintain the full year
The second-hand property price index was last reported at 177.09 points last week, up 0.7% on a weekly basis, and the entire year of the pig rose 4.2%.
The Central Plains City Leading Index (CCL), which reflects second-hand property prices, last reported at 177.09 points last Friday, up 0.69% on a weekly basis, reversing the decline of the previous week, and rising to a near 3-week high, compared with the Year of the Dog (February 4, 2019 (Day) Compared with 169.95 points in the last week, the annual property price in the year of the pig increased by 4.2%.
The index reflects the second-hand property prices from December 30, 2019 to January 5, 2020. At that time, the new year entered, and the market had a strong holiday atmosphere
Huang Liangsheng, senior co-director of the Central Plains Real Estate Research Department, pointed out that before the seasonal boom of the property market after the Spring Festival, there were buyers who entered the market first-hand, and the second-hand transaction increased significantly, which stimulated the property price to temporarily stop falling and rebound.
East New Territories property prices soar 7.1%
As for the sub-index, only the Kowloon District Index fell slightly by 0.14% on a weekly basis, and the rest of the indexes all recorded gains. In particular, the Hong Kong Island Index rose by 1.42% on a weekly basis, the largest increase in 10 weeks, ending the 2-week losing streak. The price rose by 1.11% on a weekly basis, the largest increase in 36 weeks.
As for summing up the year of the pig, CCL recorded a cumulative increase of 4.2%, and property prices in the New Territories performed well, especially in the New Territories East, where property prices rose 7.1% during the period, followed by New Territories West rising 5.82%, and Hong Kong Island and Kowloon An increase of about 4% was recorded.
Some analysts worry that due to the impact of the pneumonia epidemic in Wuhan and the slowdown of Hong Kong’s economy, it is expected that the trend of the local property market will remain weak this year, but it is generally believed that the chance of a sharp drop in the event of SARS is not high.