In June, the private property price index fell by 0.78% month-on-month, ending 5 months, and the property price index of various units fell across the board
It led the decline of medium and large units, and the decline of fine units was less than 1%. In the first half of this year, the cumulative increase was 9.5%. In the second quarter, the number of negative assets was only one, down 97% quarter-to-quarter.
According to the latest data from the Rating and Valuation Department, the private residential property price index for March this year was 393.7 points, down by 0.78% from the May index of 396.8 points. It is the first time since January this year that it has risen for five months. .
Small and medium-sized units just need to support a moderate decline
As the Rating and Valuation Index reflects the second-hand market conditions, the index is lagging behind the market conditions due to the property registration time. The June index is expected to reflect the market conditions from mid-May to early June. At that time, the Sino-US trade war intensified and a series of The anti-reforms storm, the index has not fully reflected the recent series of social disputes.
According to different areas, the property price index of all types of units fell across the board, especially by medium and large units. Among them, the medium-sized units with a usable area of 753 to 1,075 square feet fell 1.8% month-on-month, down from November last year. The largest decline, followed by more than 1,722 square feet of Class E luxury residential units, a monthly decline of 1.7%.
Based on industry analysis, it is generally believed that the impact of social shock on property price index has not yet fully emerged. It is expected that property prices will record a relatively significant decline in July, but it is believed that the impact of political events on the property market is only short-lived, and there will be no plunge in property prices. .
As for small and medium-sized units supported by rigid demand, the decline was relatively mild. Class B units with an area ranging from 431 to 752 square feet fell by only 0.4% month-on-month, belonging to the finest drop among all types of units, and the area was less than The 430 sq. ft. Class A fine unit has a drop of only 0.9%.
In the second quarter, only one negative asset fell by 97%
Although property prices have softened in June, overall, overall property prices in the first half of this year still recorded a 9.5% increase, reversing the decline in the second half of 2018, but the increase was slightly lower than the 10.9% in the first half of 2018. In the B-type unit, the increase was 10.2%, which outperformed the market, followed by the Class A fine unit. In contrast, the E-class luxury units only gained 2% in the first half of the year.
According to the latest data from the HKMA, the number of negative assets in the second quarter of Hong Kong has dropped from 44 in the first quarter to only one. It is almost extinct. It is the lowest in the past three quarters and 97% below the quarter. The amount of outstanding loans was 3 million yuan, down about 99% from the 231 million yuan in the first quarter. The negative equity case mainly involved loans for the mortgage insurance scheme. The number of mortgages was relatively high, and there were also small unsecured loans of about 120,000 yuan.
The US Federal Reserve announced the results of the interest rate decision today. It has a good chance to start the interest rate cut cycle. It is generally believed that although the conditions of reduction in Hong Kong are not high, the low interest rate environment is expected to be maintained during the year. It is expected that the negative equity situation in the third quarter will not increase significantly. The number is lower.