Zhongyuan Real Estate: CCL rose for 3 consecutive weeks, up a total of 2.30%, surpassing the 140-point level.

Yang Mingyi, senior joint director of the research department of Zhongyuan Real Estate, pointed out that the latest Central Plains City Leading Index CCL was 140.25 points, a weekly increase of 0.62%. In late August, Federal Reserve Chairman Powell hinted at a possible rate cut in September, which stimulated a positive atmosphere in the Hong Kong property market. The CCL has risen for three consecutive weeks, totaling 2.30%, further breaking through the 140 point level and reaching a new high for 59 weeks since early August 2024. After the implementation of the rate cut, buyers' confidence in entering the market has strengthened, helping to release more purchasing power for second-hand homes, and the upward trend in Hong Kong property prices may be sustainable. As long as the CCL rises by another 2.77 points or 1.98%, it will reach the fourth quarter target of 143.02 points, which was the low point before the cooling measures were implemented in 2024. In May of this year, interest rates fell, Hong Kong property prices began to bottom out and rise slightly. The CCL has risen 12 times and fallen 5 times in the past 17 weeks, with a 3.77% increase from the low point of 135.16 points in May, and a temporary cumulative increase of 1.90% in property prices by 2025. Compared to the low point of 134.89 points before the financial case in March 2025, the index has risen by 3.97%. Compared to the low point of 135.86 points before the first rate cut in September 2024, the index has risen by 3.23%, and the decline from the historical high of 191.34 points in August 2021 has narrowed to 26.70%. On September 21, the US and China reached an agreement on the divestment of TikTok's US business, the third phase of Tai Po Shan was launched with the sale of 140 units on September 22, the Hong Kong Housing Society began selecting units at Long Yan in Kwun Tong, the MVP on West Mid-Levels launched the sale of 50 units on September 27, and Long Yu in Yau Tong launched the sale of 53 units on September 28. The impact on Hong Kong's second-hand property prices will only begin to be reflected in the CCL announced in mid-October 2025. The Zhongyuan City Leading Index CCL Mass was 141.88 points, a weekly increase of 0.18%, reaching a new high for 64 weeks since the end of June 2024. The CCL (small and medium-sized units) was 140.51 points, a weekly increase of 0.44%, reaching a new high for 63 weeks since early July 2024. Both CCL Mass and CCL (small and medium-sized units) have risen for three weeks in a row, with accumulative increases of 2.17% and 2.27% respectively. The CCL (large units) was 138.90 points, a weekly increase of 1.59%, reaching a new high for 21 weeks since the end of April 2025. Property prices in the four districts have risen for two consecutive weeks. The CCL_Mass in Kowloon was 139.63 points, a weekly increase of 0.65%, making it the second highest this year. The CCL_Mass in Hong Kong Island was 140.75 points, a weekly increase of 0.07%, with a total increase of 2.89% over two weeks, ranking as the fourth highest this year. The CCL_Mass in East New Territories was 153.64 points, a weekly decrease of 0.12%, with a total decrease of 0.63% over two weeks, and still ranks as the fifth highest this year. The CCL_Mass in West New Territories was 129.50 points, with a weekly decrease of 0.14%, returning after rising for two weeks, but still ranking as the second highest this year. In the eight major property price indices of 2025, the CCL has increased by 1.90%, CCL Mass by 2.71%, CCL (small and medium-sized units) by 2.56%, CCL (large units) by 1.38%, Hong Kong Island by 1.57%, Kowloon by 4.35%, East New Territories by 3.54%, and West New Territories by 0.89%.