US Union: “Midland Property Price Index” rebounded 0.16% week over week, “Fed Confidence Index” rebounded 0.3% week over week

The Zhitong Finance App learned that the latest report of the “Midland Property Price Index” was 131.87 points, up 0.16% from week to month, up 0.69% from four weeks ago, while property prices in Hong Kong have increased by a cumulative total of 2.92% so far this year, up 4.43% from the low level during the year.

Midland Property analyst Shum Chung-him pointed out that as the Bank of Hong Kong cuts interest rates again and the tariff dispute between China and the US cools down, the atmosphere in the Hong Kong property market will be favorable. The markdown market declined, and the confidence index rebounded. The latest report of the “US Confidence Index” (based on weekly changes in US Internet disk prices), which reflects owners' trading attitudes, was 76.1 points, up 0.3% from week to week. The confidence index has stabilized at over 75 points for 14 consecutive weeks and continues to develop at a high level.

More importantly, the confidence index has been above average for 49 consecutive weeks (a good and weak dividing line for property prices), which indicates that Hong Kong property prices will continue to rise strongly. As the US Senate passed the temporary funding bill today to end the “shutdown,” it brought positive stimulus to Hong Kong stocks and boosted market sentiment.

If divided according to the 3 districts, property prices in the 3 districts showed individual developments from week to week. The latest report of the “Midland Kowloon Property Price Index” was 137.3 points, up 0.37% from week to month; the latest report on the “Midland New Territories Property Price Index” was 121.37 points, up 0.23% from week to week. On the other hand, the latest report of the “Associated Hong Kong Island Property Price Index” was 134.58 points, down 0.6% from week to week.

Compared with four weeks ago, property prices in District 3 also showed individual developments. The Kowloon Region and the New Territories region increased by 0.93% and 1.04% respectively compared to four weeks ago, while Hong Kong Island fell 0.97%. As for the changes in property prices so far during the year, property prices in District 3 also showed mixed performance. The Kowloon and New Territories regions have increased 4.79% and 2.7%, respectively, during the year, while Hong Kong Island has decreased by 0.99%.