The Central Plains Urban Leading Index (CCL) latest reported at 136.87 points, a slight decrease of 0.04% compared to last week

According to the Zhitong Finance APP, Yang Mingyi, Senior Co-Director of the Research Department at Centaline Property, pointed out that the Centaline City Leading Index (CCL) latest reported 136.87 points, a slight decrease of 0.04% compared to last week. The Hang Seng Index has experienced significant fluctuations, and after three consecutive weeks of increases, the CCL has softened, with the index contending around 136 points for five consecutive weeks, reaching a high of 136.92 points and a low of 135.86 points. Hong Kong property prices have stabilized at low levels but the momentum for recovery is not very apparent at the moment. It is believed that in the short term, the CCL will continue to hover between 135 and 137 points. Looking ahead to the early November U.S. presidential election and the Federal Reserve's interest rate decision announcement, there may be a breakthrough in the trend of Hong Kong property prices. The CCL continues to be at over an 8-year low, returning to levels seen in mid-September 2016, with a cumulative decline of 7.02% so far in 2024. The index has dropped 28.47% from the historical high of 191.34 points in August 2021, and is down 4.30% from the low of 143.02 points before the interest rate hike in March 2024, but has risen 0.74% from the low of 135.86 points before the U.S. rate cut in September 2024. The Centaline City Large Estate Leading Index CCL Mass reported 137.49 points, a week-on-week decrease of 0.34%. The CCL (small and medium-sized units) reported 136.16 points, a week-on-week decrease of 0.23%. Both CCL Mass and CCL (small and medium-sized units) softened after three consecutive weeks of increases, with the index hovering at levels seen at the end of August 2016. The CCL (large units) reported 140.39 points, a week-on-week increase of 0.86%, ending two weeks of declines, but the index remains the second lowest since the end of September 2016. Property prices in four districts saw two increases and two decreases. The New Territories West CCL_Mass reported 124.79 points, a week-on-week decrease of 2.32%, marking a total decline of 2.36% over two weeks, and the index has reached its lowest level in over 8 years since early October 2016. The Hong Kong Island CCL_Mass reported 134.44 points, a week-on-week decrease of 1.43%. The Kowloon CCL_Mass reported 136.30 points, a week-on-week increase of 0.79%, marking a total increase of 2.81% over three weeks. The New Territories East CCL_Mass reported 150.74 points, a week-on-week increase of 1.54%, marking a total increase of 2.22% over two weeks. The indices for Hong Kong Island, Kowloon, and New Territories East are hovering at levels seen at the end of May 2016, the end of September 2016, and mid-December 2016, respectively. According to the eight major property price indices for 2024, New Territories West has cumulatively declined by 9.57%, CCL (large units) has dropped by 8.42%, Hong Kong Island has decreased by 7.71%, CCL has fallen by 7.02%, CCL (small and medium-sized units) has decreased by 6.73%, CCL Mass has dropped by 6.66%, New Territories East has declined by 6.55%, and Kowloon has decreased by 3.87%