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.

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.