Zhongyuan Real Estate: CCL rose by 0.24% weekly, up 7.96% so far this year. The increase in housing prices in Hong Kong may slow down in the second half of the second quarter.

Yang Mingyi, Senior Co-Chairman of the Research Department of Central China Real Estate, pointed out that the latest Central China Leading Index (CCL) reported 155.58 points, up 0.24% weekly. She noted that the CCL only needs to rise by another 0.42 points or 0.27% to reach the target of 156 points. Property prices have temporarily risen by 7.96% this year, and have rebounded by more than 15% from the low point last year. With a significant narrowing of bargaining space for property owners, second-hand transactions have slowed down in the recent period, which may affect the slowdown in the rate of property price increase in the later part of the second quarter. Since the interest rate cut in May 2025, property prices have bottomed out and rebounded, coupled with two interest rate cuts by local banks last year, the CCL has risen by 15.11% from the low point of 135.16 points in May last year. Compared to the low point of 134.89 points before the financial case in March 2025, the CCL has risen by 15.34%; compared to the low point of 135.86 points before the first interest rate cut in September 2024, the CCL has risen by 14.51%; compared to the historical high of 191.34 points in August 2021, the CCL has fallen by 18.69%. The Central China Leading Index for large-scale residential estates (CCL Mass) reported 157.48 points, up 0.44% weekly, marking a total increase of 1.76% in the past 3 weeks. The CCL for medium and small units reported 155.84 points, up 0.46% weekly, marking a total increase of 3.27% in the past 6 weeks. Both the CCL Mass and CCL (medium and small units) have reached new highs since the end of September 2023, surpassing 136 weeks (over 2 and a half years). In terms of property prices in the four districts, three districts saw an increase while one district saw a decline. CCL Mass in the Western New Territories reported 140.35 points, up 1.15% weekly, rebounding this week after a drop of over 1% last week, reaching the second highest level in nearly 2 and a half years since mid-November 2023. CCL Mass in Kowloon reported 154.74 points, up 0.4% weekly, a total increase of 1.49% in the past 2 weeks, reaching a new high in over 2 and a half years since early September 2023. CCL Mass in the Eastern New Territories reported 171.06 points, up 0.39% weekly, a total increase of 3% in the past 3 weeks, reaching a new high in over 2 and a half years since mid-September 2023. CCL Mass in Hong Kong Island reported 159.72 points, a slight decline of 0.08% weekly, stabilizing after 2 weeks of consecutive increase, still the second highest level since the end of September 2023. In 2026, the CCL has temporarily risen by 7.96%, CCL Mass by 8.47%, CCL for medium and small units by 8.13%, CCL for large units by 7.04%, Hong Kong Island by 13.96%, Kowloon by 6.92%, the Eastern New Territories by 7.84%, and the Western New Territories by 5.74%.