The Midland Property Price Index rose by 0.15% week-on-week, with the confidence index remaining above the average for 42 consecutive weeks, indicating a strong upward trend in property prices

Midland Realty stated that the latest "Midland Property Price Index" is 129.1 points, up 0.15% week-on-week, marking two consecutive weeks of increase. The index has slightly risen by 0.01% compared to four weeks ago, and property prices have increased by 0.76% year-to-date. It is worth noting that the recent interest rate cut in Hong Kong and the cumulative effect of the "Policy Address" have not yet been reflected in the property price index.

Midland Realty analyst Sam Sum pointed out that property price trends are expected to remain optimistic, and market confidence is also maintained at a high level. The "Midland Confidence Index," which reflects the selling attitude of property owners (based on weekly changes in Midland's listed prices), is currently at 75.2 points. Although it has decreased by 0.7% week-on-week, it has stabilized above the 75-point level for seven consecutive weeks, continuing to consolidate at a high level. Furthermore, the confidence index has remained above the average for 42 weeks (which is the dividing line for property price trends), indicating strong upward momentum for property prices. The impact of the local banks' interest rate cut of one-eighth of a percentage point and the announcement of the Policy Address on the property market will be reflected in the confidence index to be released later.

When divided into three districts, property prices in all three districts have risen week-on-week for two consecutive weeks, with the largest increase in the Hong Kong Island district. The latest "Midland Hong Kong Island Property Price Index" is 134.33 points, up 0.45% week-on-week; the latest "Midland Kowloon Property Price Index" is 133.81 points, slightly up 0.1% week-on-week; and the latest "Midland New Territories Property Price Index" is 118.53 points, slightly up 0.08% week-on-week.

When comparing the property price indices of the three districts with four weeks ago, the developments are mixed. The Hong Kong Island district has increased by 1.02% compared to four weeks ago, the New Territories district remains flat, while the Kowloon district has decreased by 0.38%. As for the year-to-date changes in property prices, the performance of the three districts is also varied, with the Kowloon district and New Territories district increasing by 2.12% and 0.3% respectively, while the Hong Kong Island district has decreased by 1.17%