The Conference Board Consumer Confidence Index rose 1.9% to 64.2 points this week. The S&P CoreLogic Case-Shiller US National Home Price NSA Index fell slightly by 0.07% this week.

16:06 20/01/2025

Liu Jiahui, Chief Analyst of Meilian Property, stated that although the confidence index has risen on a weekly basis, it has fluctuated narrowly between 63 and 64.3 points in the past three weeks. It is believed that a clear trend will only emerge after the Lunar New Year holiday.

Lau Ka Fai, Chief Analyst of Midland Realty, said, "The latest Midland Confidence Index stands at 64.2 points, up 1.9% weekly. In terms of property prices, the latest Midland Property Price Index is 129.08 points, with a slight weekly decrease of 0.07%. Although the confidence index has risen weekly, it has fluctuated between 63 and 64.3 points in the past 3 weeks. It is believed that there will be a clearer trend after the Lunar New Year holiday. Lau Ka Fai pointed out that based on the price reduction ratio reflected on Midland Realty's website, among the 3 districts in Hong Kong, the New Territories has the highest proportion of price reductions. Among the sub-districts, the three areas with the highest proportion of price reductions are Tsuen Wan, Tin Shui Wai, and To Kwa Wan/Kowloon City. When divided by unit area, the top 3 areas with the highest proportion of price reductions have remained unchanged for 2 consecutive weeks. The highest proportion of price reductions is for Class A units with a usable area of approximately 430 square feet or below; followed by Class B units with an area of 431 to approximately 752 square feet; and closely followed by Class C units with an area of 753 to approximately 1075 square feet. When divided into 3 districts, property prices in the 3 districts have shown individual developments weekly, with Hong Kong Island performing the best. The latest Midland Hong Kong Island Property Price Index is 138.19 points, up 0.29% weekly; the latest Midland New Territories Property Price Index is 117.92 points, up slightly by 0.03% weekly; on the other hand, the latest Midland Kowloon Property Price Index is 133.05 points, down 0.32% weekly. Compared with four weeks ago, property prices in the 3 districts have all risen, with Hong Kong Island, Kowloon, and New Territories rising by 1.17%, 1.43%, and 0.33% respectively compared to four weeks ago. Year-to-date changes in property prices show an increase of 1.67% and 1.54% in Hong Kong Island and Kowloon respectively, while a decrease of 0.22% in New Territories.

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