October housing sales rebounded to HK$27.7b

But here is the catch.

Barclays cited latest data from the Land Registry and Centaline, property sales value in October rebounded to HKD27.7bn.

In its report, Barclays said that while this is +14.3% m/m, it is -63.7% y/y. In the private primary market, October's HKD5.0bn is +6.9% m/m, but -76.7% y/y. In the private secondary market, October's HKD12.5bn is -8.6% m/m and -62.7% y/y.

Here's more from Barclays:

Looking at the first 10M of 2013, this now brings developers cumulative sales to 6,621 units and HKD56.0bn. Against 10M 2012, this is -42% and -53% in volume and value terms, respectively. Compared to full-year 2012, developers sales through 10M 2013 is now at 52% in volume terms and 43% in value terms.

Average ticket size in Oct – primary at HKD6.7mn, secondary at HKD5.2mn: On a slightly more positive note, private housing sales in Oct saw the average primary ticket size increase from HKD5.6mn to HKD6.7mn.

With secondary ticket size largely unchanged at HKD5.2mn, this helped to increase the average private housing transaction size to HKD5.6mn from HKD5.3mn. While this is up on a m/m perspective, compared to 1H13's average of HKD5.9mn/transaction and 2012's average of HKD5.9mn/transaction, October's average ticket size is still 6% smaller.