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Hong Kong Residential Market Survey

Tentative signs confidence in the housing market is fading

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Tentative signs confidence in the housing market is fading

The September 2015 RICS Hong Kong Residential Market Survey highlights, at the headline level, an across the board weakening in sentiment.

Indeed, the net price balance moved down significantly from +53 to +2, indicating that the proportion of contributors seeing a rise in prices was roughly matched by those reporting a decline.

Furthermore, activity indicators in September continued to mirror the uncertainty in the broader economy. Interest from potential purchasers of property fell materially for the first time since the survey began in March with the new buyer enquires net balance slipping to -26 (the August reading was -1).

Meanwhile, new vendor instructions remained broadly flat for the second consecutive month. Agreed sales were also softer with 36% per cent more contributors reporting a fall rather than an increase in transactions in September (this compares a negative reading of -15% in August). 

Source : RICS

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Keywords : RICS