Zhongyuan: CCL latest report is 143.56 points, dropping by 1% weekly, expected target of 147 points in the first quarter of next year.

The latest Central Plains City Leading Index (CCL) report is 143.56 points, down 1% for the week. Yang Mingyi, Senior Co-Director of Research at Central Plains Real Estate, pointed out that after two consecutive weeks of increase, the CCL softened but stabilized at the 143-point level. The index is still the third highest in 80 weeks since early June 2024. With the rise in property prices in Hong Kong, owners increasing prices, and buyers needing time to adjust, coupled with Christmas approaching, the second-hand market is starting to enter a tug-of-war situation, with CCL fluctuating narrowly between 143 and 145 points for five consecutive weeks. Yang Mingyi believes that the property market sentiment remains positive, and the short-term direction of rising property prices has not changed. The target for the first quarter of 2026 is 147 points, which is the high point after the removal of cooling measures in 2024. CCL is currently 3.44 points or 2.4% away from this target. As Hong Kong's prime rate fell in May 2025, property prices hit bottom and rebounded, with CCL rising 6.21% from the low point of 135.16 points in May, temporarily up 4.3% compared to March 2025, an increase of 6.43% from the low point before the financial case in March 2025, and a 5.67% increase from the low point before the first rate cut in September 2024. Compared to the historical high of 191.34 points in August 2021, the index has fallen by 24.97%. The Central Plains City Mass Leading Index (CCL Mass) for large-scale housing estates is 144.8 points, down 0.99% for the week. CCL (small-medium units) is 143.54 points, down 0.99% for the week. CCL Mass and CCL (small-medium units) both ended two consecutive weeks of increase, with the index still the third highest in 80 weeks since early June 2024. CCL (large units) is 143.7 points, down 1.07% for the week, ending three consecutive weeks of increase and still the fourth highest in 72 weeks since early August 2024. Property prices in the four districts are mixed, with three falling and one rising. CCL_Mass for Hong Kong Island is 139.4 points, down 3.65% for the week, the largest decrease since early March 2025 (41 weeks), after rising over 5% in the previous two weeks. CCL_Mass for Kowloon is 143.64 points, down 0.35% for the week, and the index remains the third highest in 82 weeks since late May 2024. CCL_Mass for the New Territories West is 133.1 points, down 0.34% for the week, ending two consecutive weeks of increase and still the third highest in 78 weeks since late June 2024. CCL_Mass for the New Territories East is 159.2 points, up 0.48% for the week, with six consecutive weeks of increase totaling 3.78%, reaching a new high in 86 weeks since late April 2024. As of the publication date, all eight major property price indices in 2025 have risen, with CCL currently up 4.30%, CCL Mass up 4.83%, CCL (small-medium units) up 4.77%, CCL (large units) up 2.02%, Hong Kong Island up 0.6%, Kowloon up 7.35%, the New Territories East up 7.29%, and the New Territories West up 3.69%.