"MLC Building Price Index" fell by 0.45% on a weekly basis, but still slightly increased year-to-date.

The latest "Midland Building Index" report is 128.2 points, a weekly decrease of 0.45%, but still an increase of 0.56% compared to four weeks ago, with a slight increase in building prices by 0.05% so far this year. When divided into 3 districts, building prices in all 3 districts have decreased weekly. The latest "Midland Hong Kong Island Building Index" is 132.65 points, a weekly decrease of 0.98%; the latest "Midland Kowloon Building Index" is 132.66 points, a weekly decrease of 0.37%; the latest "Midland New Territories Building Index" is 118.07 points, a weekly decrease of 0.35%. Comparing to four weeks ago, there are individual developments in building prices in the 3 districts, with Kowloon and New Territories up by 0.45% and 0.95% respectively, but Hong Kong Island down by 0.32%; as for the change in building prices so far this year, the performance in the 3 districts is different, with Kowloon up by 1.24% so far this year, while Hong Kong Island and New Territories down by 2.41% and 0.09% respectively. The latest "Midland Confidence Index" is 75.5 points, a weekly increase of 2.9%. Although bank reserves have decreased, interest rates remain low, and with market expectations of a rate cut by the Federal Reserve in September increasing, it provides positive support for the Hong Kong property market. Reduced price listings have decreased, leading to an increase in the confidence index.