The Midland Property Price Index rose 0.61% week-on-week, marking a 14-week consecutive increase

The Midland Property Price Index latest reported at 139.51 points, up 0.61% week-on-week, an increase of 1.82% compared to four weeks ago, and has risen 3.56% year-to-date, with a cumulative increase of 10.48% from last year's low. Property prices have risen for 14 consecutive weeks, setting the longest weekly increase record since June 2019.

Midland Property analyst Sam Sum pointed out that owners' confidence in the property market continues to strengthen, with the confidence index rising week-on-week. The Midland Confidence Index, which reflects owners' listing attitudes (based on weekly changes in Midland's listing prices), latest reported at 84.5 points, up about 1.7% week-on-week, reaching a new high since July 2018. The confidence index remains above the average, indicating that property prices are likely to rise further. The impact of the new fiscal budget on the local property market will be reflected in the confidence index to be announced later. As for the recent situation in the Middle East, it may cause short-term fluctuations in the stock market, but has not yet affected the local property market.

Divided by three districts, property prices in all three districts have risen week-on-week for two consecutive weeks. The Midland Hong Kong Island Property Price Index latest reported at 147.08 points, up 0.22% week-on-week; the Midland Kowloon Property Price Index latest reported at 146.3 points, up 0.7% week-on-week; the Midland New Territories Property Price Index latest reported at 126.26 points, up 0.67% week-on-week; compared to four weeks ago, property prices in all three districts have risen, with Hong Kong Island, Kowloon, and New Territories increasing by 3.03%, 2.2%, and 1.08% respectively; as for the year-to-date changes in property prices, all three districts have also risen, with Hong Kong Island, Kowloon, and New Territories increasing by 5.18%, 4.54%, and 2.22% respectively.

In terms of the discount property ratio, according to the discount property ratio reflected on the Midland Property website, the New Territories has the highest discount property ratio among the three districts; if divided into smaller areas, the three areas with the highest discount property ratios are Tsuen Wan, Kowloon Bay, and the Four Dragons/Lai Chi Kok. If classified by unit area, the highest discount property ratio is for Class A units with a usable area of about 430 square feet or less; followed by Class B units with a usable area between about 431 to about 752 square feet; and then Class C units with a usable area between about 753 to about 1,075 square feet