Home prices dipped a further 0.4% this week

Will this be another month of slides?

According to Barclays, the CCL home price index dropped for a second straight week with a -0.4% w/w decline last week.

Since April there have been four instances when the index has dropped consecutively for more than one week, compared with no such instances recorded from January to March this year. At a reading of 142.62, the index has retreated 0.7% from its peak of 143.56 recorded on 28 June. CCL (small/medium) dropped 0.3% w/w while CCL (large) dropped 0.6%.

Across districts, Hong Kong Island, Kowloon and New Territories East dropped 1.4%, 1.2% and 0.5% w/w. New Territories West was the only region to record a gain at 2.9% w/w.