Hong Kong property prices hit sixth consecutive record high
Despite the widespread reports of the Hong Kong property market entering a bear market, the official price index hit a record high for the sixth consecutive month in September. However, reports suggest the statistics should not be taken too seriously, with analysts saying that the latest data likely failed to capture the softening in conditions, and is actually more accurately reflective of August's conditions, due to a lag in time between purchase and registration. One analyst said that he expects the decline to begin to be captured in next month's figures. According to Barclays, home prices are now down 2.7% compared to their mid-September peak.

Official data on Hong Kong residential prices pointing to a fresh record in September is misleading, as it fails to factor in the sudden weakening in the sector. Photo: AFP