The prices index in August have recorded a new high,political disputes interrupt the rally potential
Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok) Rating and Valuation Department announced the prices index in August yesterday,recorded a new high in consecutive three months, the latest reported 260.8 points, but the 'new high record' behind, some scholars have recently reminded for the 'Occupy Central' has led to the plunge in second-hand property transactions, the sale of market was quiet,but the market remains after a series of political disputes are fermented, the U.S. rate hike risk is" oriole in the post, "a series of bad news may cause the property market down cycle appeared earlier,while property prices begin to accumulate in the rally in the middle of this year,may 'prodding'before the end of this year.
Rating and Valuation Department announced yesterday, the latest prices index in August was at 260.8 points, 1.875% monthly rise,then refresh the new high record. It is worth noting in July prices index monthly increase of 2.32%, reflecting the increase in property prices has narrowed in August.
Since the property market was driven by home-use buyers,among a variety of property types in August,an area 1,075 ft (salable area, the same below) following A, B,and Class C units,prices almost simultaneously with the market trend,the latest reported 261.1 points,hit a new high record,rose 1.91 percent on a monthly basis. In contrast, 1,076 feet above the D, E class large units, August obvious chase behind this column to catch a train bound for peak prices, the latest reported 254.6 points,rose 2 percent on a monthly basis. Only when compared to July rose 0.6% on a monthly basis,sharp rally this month,hit a new high record.
Although the prices rose in August, ut pay attention to the relevant data have lagged behind and do not reflect the current impact of 'Occupy Central' which cause on the property market,while Midland Realty 'Price Chart' also shows that property prices will continue rose 1.2 percent on a monthly basis in September, one can imagine the difference between the estimated future prices index Department announced in September, the trend would still rise.
Scholar said that the property price movements are not optimistic
Senior Lecturer,faculty of Architecture and Technology,City University,Mr.Poon Wing Chung said, when prices rose in August due to be released with the family purchasing power,rising demand,thus pushing up the property prices, but with a family like investors, the demand is always there to be digested day therefore, increase in property prices in August was already narrowed. The recent 'Occupy Central' action got out of hand,it seems to see only affect traffic, but its potential impact has spread to the property owners and prospective buyers are waiting to see 'Occupy Central' developments,drag the volume decline,October's property price movements are not optimistic.
He admits,'Occupy Central' was deadlocked currently,the two sides can not compromise their own insistence, most worrying is the views of 'Occupy Central' people dispersed, no one has the ability to control,Hong Kong Federation of Students,students and the opposition has a different political aspirations, even though Hong Kong Federation of Students finally reached a consensus with the government no longer occupied,but others may insist,so that the event is extremely difficult to solve.
The rally this year may be prodding
More realistic point of view, even if 'Occupy Central' ended,but it does not mean that the property is to the good,because the opposition has indicated that it will expand the "non-cooperation movement" comprehensive boycott of government policy,'Occupy Central' attendant is a series of political disputes, the property will cause unpredictable shocks.Meanwhile, the U.S. rate hike is looming,the more recent sell more lands with cheaper prices,the developer has seen no confidence in the market outlook.
He describes that the impact of 'Occupy Central' on the market, just as the "worse",or the property market down cycle will come earlier.The property market in the fourth quarter for the next performance,he admits quite pessimistic that the property market in mid-year cumulative increase, or possibly prodding before the end of this year.
As for the private home rentals index in August was at 159.9 points, Genesis is also a new high record,rising 1 percent on a monthly basis, the increase mainly from the area of 1,075 ft (salable area, the same below) following A, B, and Class C properties, at 162.2 points, according to month rose 2 percent, large units only 0.4 percent increase over the same period.
Rating and Valuation Department have also announced the first eight months of completions private homes yesterday, there are only 386 units in August,fell about 77.8% on a monthly basis, but the first eight months total is still up to 9,657 units,a sharp rise of 483% when compared to 1,656 units which recorded in the same period last year and about 17% higher than last year's total of about 8,254 units.Compared with the government earlier forecast completions of 17,614 units throughout this year,the completed units within the first eight months accounted for 55%.
