Centa-City Leading Index reveals home prices edged up by 0.9%

Resulting to price rebound in Kowloon.

According to Barclays, the Centa-City Leading (CCL) Index of Hong Kong home prices rose 0.9% w/w to 118.25 at 16 March, narrowing the year-to-date loss to 0.7%.

Centaline said the rebound can be attributed to the earlier positive land tender results in Kai Tak at the end of February.

Here’s more from Barclays:

This triggered the 3.4% w/w price rebound for homes in Kowloon.

By comparison, the 0.7% w/w decline in New Territories West was attributed to the launch of The Riva and its impact on the secondary market.

Across the other districts, Hong Kong Island was largely flat while New Territories East rose by 1.1% w/w.

Looking ahead, Centaline expects the impact from the Federal Reserve’s potentially earlier-than-expected rate hikes could start to show up in mid-April’s CCL reading.