Home prices pull back by 3.51% from mid-September peak

CCL home price index falls yet again.

The Centa-City Leading Index fell for the fourth consecutive week in early November.

According to a research note from Barclays, with that week’s -0.85% w/w correction, the CCL home price index is now down 3.51% from its all-time high of 146.92 recorded on 13 September.

In terms of both magnitude and duration, the CCL’s correction has now exceeded the first threshold that Barclays highlighted in a previous report.

Here's more from Barclays:

Furthermore, as our US economics team is now expecting the Federal Reserve to raise the Fed Funds Rate in December 2015, another potential negative sentiment catalyst is also becoming more real.

Across the districts, New Territories East and Kowloon dropped -2.91% and -1.29% this week while Hong Kong Island and New Territories West rebounded slightly by +0.33% and +0.13%

Compared with their peaks in 2015, New Territories East and Kowloon have now dropped by -5.77% and -5.53%, respectively, while Hong Kong Island and New Territories West are down -3.15% and -3.10%.