Home prices up by a measly 0.19%

Lone gain was posted by Hong Kong Island.

After rising by 1.36% the previous week, the Centa-City Leading Index of Hong Kong home prices rose another 0.19% w/w last week, according to Barclays.

At 119.04, the CCL index has now clawed back to year-beginning levels but remains down 0.9% y/y.

Here's more from Barclays:

While the overall index is up w/w, home prices were down in three out of four districts.
Hong Kong Island was the only area to register a gain, at 0.75% w/w.

Prices fell the most in New Territories West (-0.82% w/w) and New Territories East (-0.49% w/w).

Kowloon home prices were largely unchanged at 0.08% w/w. As discussed last week, we believe one paradox from the recent home price recovery is that it makes potential policy easing less likely.