According to a report from Centaline Property's research department, senior co-director Yeung Ming-yee noted that the Centaline City Leading Index (CCL) most recently stood at 160.05 points, down 0.71% week-on-week, hitting a 10-week (over two-month) low since early August 2026. This reading reflects market conditions during the first week after the U.S. interest rate hike and the week when the first batch of 153 units at Cheung Sha Wan's "Rui Jing II" sold out via price list on September 27.
Since mid-August this year, when a new project in Cheung Sha Wan launched with a sales strategy priced below secondary market levels, resale transactions have come under notable pressure, causing the CCL's upward momentum to stall. Subsequently, multiple developers followed suit by launching at low prices to attract buyers, diluting the pool of secondary market purchasers. Combined with expectations that the U.S. will raise rates again within the year and upward pressure on Hong Kong interest rates, secondary buyers have adopted a wait-and-see approach, slowing transaction activity and gradually softening property price trends. The CCL has fallen from this year's high of 162.16 points to around the 160 level, with 5 declines and 3 gains over the past 8 weeks, accumulating a drop of 1.30%. However, primary market sales performance has been solid, and banks have successively introduced mortgage incentives and raised cash rebates, providing support to the property market. In the fourth quarter, the CCL is expected to fluctuate within the 158 to 162 point range.
Since the interbank rate fell back in May 2025, property prices reversed their trend and bottomed out, and with the stimulus from two local bank rate cuts last year, the CCL has accumulated a gain of 18.42% compared to the low of 135.16 points recorded in the week when the H mortgage rate again fell below the cap rate in May last year. The CCL is up 18.65% from the low of 134.89 points before the March 2025 budget, up 17.81% from the low of 135.86 points before the first rate cut in September 2024, and down 16.35% from the historical high of 191.34 points in August 2021.
On October 12, the first batch of 80 units at Hung Hom's "Shou An Phase 2" sold 18 units via price list; HSBC raised its large mortgage loan rebate to 1.5%; on the 15th, Ngau Chi Wan's "33 Clear Water Bay Phase 1" launched its first 73 units via tender, selling 8 units in a single day; on the 17th, Sai Sha's "SIERRA SEA Phase 2C(2)" launched its first batch of 142 units via price list, and Yau Tong's "Qing Hai I" offered 220 units in its second round via price list. The impact of these on local secondary property prices will only begin to be reflected in the CCL to be published in early November 2026.
The Centaline City Large Housing Estates Leading Index (CCL Mass) stood at 161.47 points, down 0.88% week-on-week. The CCL (Small and Medium-sized Units) stood at 159.91 points, down 0.74% week-on-week. Both the CCL Mass and CCL (Small and Medium-sized Units) reached 10-week (over two-month) lows since early August 2026. The CCL (Large Units) stood at 160.75 points, down 0.58% week-on-week, marking a 2-week low since late September 2026.
Property prices across the four districts showed three declines and one flat reading. The Kowloon CCL_Mass stood at 159.28 points, down 1.95% week-on-week, the largest decline in 82 weeks (over one and a half years) since mid-March 2025, ending a two-week winning streak and marking a 6-week (over one-month) low since late August 2026. The Hong Kong Island CCL_Mass stood at 163.66 points, down 0.75% week-on-week, a 2-week low since late September 2026. The New Territories West CCL_Mass stood at 144.50 points, down marginally by 0.07% week-on-week, a 2-week low since late September 2026. The New Territories East CCL_Mass stood at 173.38 points, unchanged from the previous week with no week-on-week gain or loss.
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