MIDLAND HOLDING's property price index fell by 0.22% month-on-month, with a cumulative decline of 7% so far this year
The Midland Property Price Index latest reported at 127.93 points, a week-on-week decrease of 0.22%; compared to four weeks ago, the price index still recorded a 0.26% increase; however, property prices have dropped 7% year-to-date. When divided into three regions, property prices in the three regions developed differently week-on-week. The Midland Kowloon Property Price Index latest reported at 132.15 points, a week-on-week decrease of 0.29%; but compared to four weeks ago, it still increased by 1.19%, and has dropped 5.3% year-to-date; in the New Territories, the property price index also fell week-on-week like Kowloon, with the Midland New Territories Property Price Index latest reported at 117.36 points, a week-on-week decrease of 0.24%; down 0.79% compared to four weeks ago, and has dropped 7.58% year-to-date. In the Hong Kong Island region, the latest property prices saw a slight increase week-on-week, with the Midland Hong Kong Island Property Price Index latest reported at 134.55 points, a week-on-week increase of 0.04%; compared to four weeks ago, it recorded a 1.13% increase; and the area has cumulatively dropped 9.33% year-to-date. The Midland Confidence Index latest reported at 59.5 points, a week-on-week decrease of 2.3%. Midland Property Chief Analyst Liu Jia-hui pointed out that market concerns about the U.S. slowing down interest rate cuts, combined with the recent weak performance of Hong Kong stocks, have led some eager sellers to reduce prices, resulting in a drop in the confidence index
According to the latest information from the Zhitong Finance APP, the Midland property price index is currently at 127.93 points, down 0.22% week-on-week; compared to four weeks ago, the property price index still recorded a 0.26% increase; however, property prices have dropped 7% year-to-date.
When divided into three regions, property prices in the three regions developed differently week-on-week. The Midland Kowloon property price index is currently at 132.15 points, down 0.29% week-on-week; but compared to four weeks ago, it has still increased by 1.19%, and has dropped 5.3% year-to-date; in the New Territories, the property price index has also decreased week-on-week like Kowloon, with the Midland New Territories property price index currently at 117.36 points, down 0.24% week-on-week; compared to four weeks ago, it has dropped 0.79%, and has decreased 7.58% year-to-date.
In the Hong Kong Island area, the latest property prices have slightly increased week-on-week, with the Midland Hong Kong Island property price index currently at 134.55 points, up 0.04% week-on-week; compared to four weeks ago, it has recorded a 1.13% increase; however, the area has cumulatively dropped 9.33% year-to-date.
The Midland confidence index is currently at 59.5 points, down 2.3% week-on-week. Midland Realty's chief analyst, Liu Jiahui, pointed out that market concerns about the U.S. slowing down its interest rate cuts, combined with the recent weak performance of Hong Kong stocks, have led some eager sellers to reduce prices, resulting in a decline in the confidence index
