Pandemic hits CCL back to level five and a half years ago

The number of new crown epidemic infections continues to rise, and the trend of US interest rates continues to rise, which continues to drag down the second-hand property market. Huang Liangsheng, senior co-director of Centaline Real Estate Research Department, pointed out that the latest Centaline City Leading Index CCL reported 156.37 points, returning to the level at the beginning of May 2017, and fell 1.39% on a weekly basis, reflecting the market conditions from the end of November to the beginning of December.

Before the US interest rate meeting in December, the local interest rate rose sharply, increasing the pressure on banks to raise interest rates, and the trend of property prices fell further. CCL has fallen 18.28% from its historical high of 191.34 points, a drop of nearly 20%. In 2022, it will fall by 15.27%. As for the market situation after the U.S. slows down interest rate hikes in December, the CCL, which will be announced in January 2023, will only begin to reflect it.

Eight property price indexes all fell

This week, the eight property price indexes all fell, which was the fifth time in the past 23 weeks since CCL experienced consecutive declines, and the property price decline continued. The leading index of large housing estates in Central Plains CCL Mass reported 155.83 points, returning to the level in mid-April 2017, down 1.37% on a weekly basis. CCL (small and medium-sized units) reported 154.36 points, returning to the mid-April 2017 level, down 1.37% on a weekly basis. CCL (Large Units) reported 166.12 points, returning to the level at the beginning of January 2018, down 1.48% on a weekly basis.

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