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Home prices slump by 0.5% for the first time
After gaining for three consecutive weeks.
Hong Kong home prices dropped for the first time after gaining in three straight weeks.
According to a research note from Barclays, the CCL home price index dropped 0.5% w/w to 134.03, but remained up 1.2% in 2015 so far.
Among the four districts, Hong Kong Island and Kowloon declined by 2.3% and 0.3% w/w respectively, while New Territories West and East gained 1.6% and 0.5% w/w.
The report also said that large units continued to underperform, as CCL (Large) lost 0.9% w/w and 0.2% year-to-date.
Meanwhile, on the contrary, CCL (Small/medium) lost 0.4% w/w but was up 1.4% in 2015-to-date.
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