Hong Kong's second-hand property prices softened, with the Centaline City Leading Index (CCL) falling by 0.71% on a weekly basis to 137.81 points.

The latest City Leading Index (CCL) reflecting the trend of the secondary housing market in major residential estates in Hong Kong stood at 137.81 points, a weekly decrease of 0.71%. Yang Mingyi, Senior Joint Director of the Research Department at Centaline Property, pointed out that the data reflects the market conditions in the week before the US election and the Federal Reserve meeting in early November. With a cautious market sentiment, secondary transactions slowed down, and housing prices softened after rising for two consecutive weeks. The CCL is still higher than the low of 135.86 points before the first rate cut in September, with a cumulative increase of 1.44% in five weeks of increase and two weeks of decline. However, with many fresh units already absorbed in the market, the secondary housing market is starting to see fluctuations, and the CCL may face resistance in challenging the 140-point level. The CCL continues to hover near an 8-year low, fluctuating at the level seen in September 2016, with a temporary cumulative drop in housing prices of 6.39% by 2024. Compared to the historical high of 191.34 points in August 2021, the index has fallen by 27.98%, and dropped by 3.64% compared to the low of 143.02 points before the cooling measures in March 2024. The impact of Yuen Long Hung Hom Bridge Hill II with 81 units and North Point 101 Kings Road with 157 units on the local secondary housing prices in Hong Kong will only be reflected in the CCL to be announced in mid-December. The City Leading Index of large residential estates, CCL Mass, reported 138.31 points, a weekly decrease of 0.59%. The CCL for small and medium-sized units reported 136.96 points, a weekly decline of 0.73%. The CCL for large units reported 142.01 points, a weekly decrease of 0.61%. Both CCL Mass and CCL for small and medium-sized units ended a 2-week consecutive increase, with the index at a level seen in mid-September 2016. The CCL for large units, on the other hand, ended a 3-week consecutive increase, with the index hovering around the level seen at the end of September 2016. Housing prices in the four districts saw three decreases and one increase. The CCL Mass for Hong Kong Island reported 137.21 points, a weekly decrease of 0.74%, totaling 1.33% over 2 consecutive weeks of decline. For Kowloon, the CCL Mass reported 134.87 points, a weekly decrease of 0.87%, totaling 1.05% over 3 consecutive weeks of decline. For the East New Territories, the CCL Mass reported 149.09 points, a weekly decrease of 1.55%. For the West New Territories, the CCL Mass reported 128.41 points, a weekly increase of 0.70%, totaling 2.90% over 3 consecutive weeks of increase. The indices for Hong Kong Island, Kowloon, the East New Territories, and the West New Territories have been hovering around levels seen in mid-June 2016, mid-September 2016, early October 2016, and mid-December 2016, respectively. As of this year, the eight major housing price indices show cumulative declines in the East New Territories (7.57%), CCL for large units (7.36%), West New Territories (6.95%), CCL (6.39%), CCL for small and medium-sized units (6.19%), CCL Mass (6.10%), Hong Kong Island (5.81%), and Kowloon (4.87%).