Central Plains CCL rose 0.17% week-on-week, narrowing the year-to-date decline to 5.7%.

Yang Mingyi, Senior Co-Chairman of the Research Department of Zhongyuan Real Estate, said that the latest Zhongyuan City Leading Index (CCL) was 138.80 points, up 0.17% compared to the previous week. This is the market situation in the first week after the release of favorable measures for the Hong Kong property market in the policy address. The CCL has risen for 2 consecutive weeks, with a total increase of 1.41%, but the increase narrowed this week. After the first interest rate cut in September this year, the CCL rose for five weeks and fell for one week, with an overall increase of 2.16% compared to the pre-cut low of 135.86 points, and the decline in 2024 has temporarily narrowed to 5.71%. The market sentiment is improving, with some homeowners reducing their bargaining space. With the conclusion of the US presidential election and the second interest rate cut by local banks in November, it is expected that the CCL will stabilize between 138 and 140 points in the short term. Although the CCL is higher than the pre-cut low of 135.86 points, it is still at a low level for over 8 years, hovering around the level at the end of September 2016. The index has fallen by 27.46% from its historical high of 191.34 points in August 2021, and by 2.95% from the pre-suspension low of 143.02 points in March 2024. On November 12, the first price list for 51 units at 101 Kings Road, North Point was announced, and the Hang Seng Index closed below the 20,000-point mark, hitting a low not seen since late September 2024. The impact on local second-hand property prices will only begin to be reflected in the CCL to be announced in early December. The Zhongyuan City Large-scale Housing Leading Index (CCL Mass) reported 139.13 points, up 0.11% compared to the previous week. The CCL (small to medium units) reported 137.97 points, up 0.17% week-on-week. The CCL (large units) reported 142.88 points, up 0.14% week-on-week. In the four districts, two saw price increases and two saw decreases, with fluctuations in each. CCL Mass for the New Territories East reported 1541.43 points, up 0.98% compared to the previous week. CCL Mass for the New Territories West reported 127.52 points, up 0.58%, while Kowloon's CCL Mass was 136.05 points, down 0.15%. The CCL Mass for Hong Kong Island was 138.23 points, down 0.60% week-on-week. Looking at the eight major property price indices in 2024, the New Territories West saw a cumulative decline of 7.59%, CCL (large units) fell by 6.79%, the New Territories East dropped by 6.12%, the overall CCL fell by 5.71%, CCL Mass fell by 5.55%, CCL (small to medium units) dropped by 5.49%, Hong Kong Island saw a decrease of 5.11%, and Kowloon fell by 4.04%.