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<HK Home>CCL Climbs 0.37% WoW
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The Centa-City Leading Index (CCL) came in at 146.89, up 0.37% week-on-week, and up 1.39% in combined for two weeks in a row, reflecting the market situation in which Blue Coast in Wong Chuk Hang was launched and close to being sold out, said Yeung Ming Yee, senior associate director at Centaline Property Research. The property market turned around after the withdrawal of the spicy measures at the end of February. The CCL stabilized from the trough of 143.02 before the withdrawal of the spicy measures, and has been rising 2.71% for the last six weeks. However, under the influence of price cuts and promotions of a number of new projects, the second-hand transactions gradually decelerated, and the price uptrend was obviously impeded. Yeung believed that the short-term property price volatility will remain unchanged, and that the CCL will continue to hover in a narrow range between 145 and 150. The future direction of property prices is subject to observation. Yeung pointed out that the CCL was still at an over-7-year low, lingering around the mid-February 2017’s level. The index slumped 23.23% from the historical high of 191.34 in August 2021, and dived 12.77% from the peak of 168.40 in April 2023, while the drop YTD has narrowed to 0.22%. The latest CCL was 3.11 pts or 2.12% away from the target of 150. AAStocks Financial News |
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