The Senior Associate Director of Research Department of Centaline Property Huang Liangsheng pointed, the latest CCL(small-medium property) is 121.95, slightly down 0.14% from historical peak by week. Property price of small-medium unit getting into repeatedly up trend after rising for six weeks is sign of user market. The latest CCL (Large Property) is 126.79, down 0.10% by week, with decline of 1.13% for two weeks.
However, small unit suitable to first housing customers is still popular, especially in New Territories where the property price is lower than of down town, and both property prices in New Territories East and West up to the latest peak being supported by rigid demand from users and house changing customers. The index in New Territories East is 127.24, up to latest historical peak and rises by 1.12% weekly after falling for 2 weeks. The index in New Territories West is 107.28, which has been to latest historical peak for two weeks, and it rose 1.33% by week, with total 6.84% for five weeks. On the contrary, down town property price easy back. The index in Kowloon is 122.49 which fall 0.34% by week, ending the rise for three weeks. The index in Hong Kong Island is 131.29 which fall 1.67% by week, with decline of 2.19% for two weeks.
Large project property price easy back from peak level.
Mass Centa-City Leading Index(CCL Mass) is 123.70, easy back from historical latest peak, and it down 0.14% by week. The latest CCL is 123.20 which fell 0.13% by week. CCL and CCL Mass repeatedly rise after climbing for six weeks. The draw lot result was announced on 24th July of Tin Lee Court which is a Home Ownership project in Tai O will be reflected by CCL that will be published in the middle of August. The indexes made according to transactions under official buy and sell contract promoted by Centaline from 14th to 20th July. More than 70% among are from temporary contracts between 30th June and 6th July.
Market focus to new projects, so the second hand property transaction is slow down.
Facing hot sale of new projects, second hand property is lower competitive. Property visiting is much the same, with 663 groups registered this week. Centaline Property registered 663 groups of visiting appointments on weekend for its ten large projects, down 4.6% by week, and it has declined for two weeks. Most projects have stable visiting quantity; Kornhill Gardens down 25% which is the most. Second hand property transaction slow down because of lack property source and owner's strong attitude, expressed by Chen Yongjie, the Asian Pacific Region Residential Department of Centaline Property. There will be more large new projects into the market on this weekend, leading visiting quantity to second hand property decrease or even, and it is estimated second hand property transactions especially of medium-high cost property in July will be lower than of last month.
Visiting appointments decrease; Owners are still aggressive on pricing.
In Hong Kong Island, the visiting quantity to Taikoo Shing this week is similar to of last week, which are 50 groups, expressed by Zhao Hongyun from Centaline Property. In Kowloon, large new project in Tai Po will be put on sale on this weekend, which must grab the market focus, and visiting quantity to Laguna City is 60 groups, down 7.7% by week, while the property source down to 120 units; Owners are still aggressive on pricing, Hong Jinxing from Centaline Property pointed.
In New Territories, property visiting quantity to City One in Sha Tin maintains in low level of about 60 groups being affected by new project sales in same district, no up or down comparing with data of last week, Li Zongwen from Centaline Property expressed. Since large number of small cost properties have been digested by the market in earlier, so non occupied property source decreased, and sellers are aggressive on pricing seeing market is hot, leading some potential buyers turn to first hand property market, thus the transactions predicted to slow down in this month, and about 42 cases have been registered since this month.
