According to Futu Securities News, Yang Mingyi, Senior Joint Director of Central Plains Real Estate Research Department, pointed out that the latest Central Plains City Leading Index (CCL) was 140.89 points, down 0.25% weekly and a total of 2.51% for five consecutive weeks, during the week of the third round of NOVO LAND Phase 3B sales in Tuen Mun on June 22. The developer continued to sell new properties at low stock prices, and second-hand transactions were under pressure, but the decline in the CCL was slightly reduced, down 0.69% in the previous week, 0.4% in the last week, and 0.25% this week. The index hit a new low of the past eight years (407 weeks) this week, returning to the level at the end of September 2016, with a cumulative decline of 4.29% by 2024. Compared with the historical high of 191.34 points in August 2021, the index has fallen by 26.37%, and it has fallen by 1.49% compared with the pre-riot low of 143.02 points.

Federal Reserve Chairman Powell said this week that recent U.S. data strengthened confidence in further inflation retreat, and the market expects interest rate cuts as early as September. Homeowners are starting to wait for interest rate cuts, and bargaining is narrow. The new Tuen Mun property has significantly reduced its prices to promote inventory clearance. It is believed that property developers will continue to use a strategy of offering a stock price comparable to second-hand prices to promote sales, and the downward trend of second-hand prices will remain unchanged. On July 17, SHK PPT (00016) won the first small Lijin residential land of this fiscal year with a bid of 0.619 billion yuan, and on July 21, the first round of price list sales of Pak Wai Sun III in Kwai Chung sold 108 units. The impact on the local second-hand property market will not be reflected until the CCL is released in early August.

In addition, the Central Plains City Leading Index (CCL) Mass for large-scale housing estates was 141.66 points, down 0.10% weekly. CCL (small and medium-sized units) was 140.40 points, down 0.17% weekly. CCL (large units) was 143.37 points, down 0.64% weekly. CCL Mass, CCL (small and medium-sized units), and CCL (large units) have declined for five consecutive weeks, with a cumulative decline of 2.18%, 2.35%, and 3.29%, respectively. CCL Mass and CCL (small and medium-sized units) hit a new low of the past eight years, returning to the level at the end of September and early October 2016, respectively; CCL (large units) hit a new low of seven and a half years, returning to the level in mid-January 2017.

In terms of the four regions, three rose and one fell. CCL_Mass in East New Territories was 155.44 points, up 1.52% weekly and a total of 1.73% for two consecutive weeks, and the index was at the level of early March 2017. CCL_Mass in Hong Kong Island was 139.18 points, up 1.28% weekly and rebounded after three consecutive weeks of decline, and the index was at the level at the beginning of July 2016. CCL_Mass in West New Territories was 131.22 points, up 0.34% weekly and ended two consecutive weeks of decline, and the index continued to be at the level in mid-February 2017. CCL_Mass in Kowloon was 137.96 points, down 2.22% weekly and softened after two consecutive weeks of rebound, and the index returned to the level at the beginning of October 2016.