Opinion News:On November 25, the Central Plains Valuation Index (major banks) CVI was last reported at 5.26 points, an increase of 1.69 points from last week’s 3.57 points. Huang Liangsheng, senior co-director of Centaline Real Estate Research Department, pointed out that the CVI has stabilized in a single week after falling for two consecutive weeks, but it continues to be below 10 points. CVI has been below 10 points for 9 consecutive weeks, with a maximum of 7.52 points and a minimum of 3.57 points, still hovering at the bottom. The rise in interbank interest rates and new highs, as well as the increase of new mortgage rates by banks this week, will have an impact on banks’ mortgage attitudes, which will be reflected in the CVI in the next few weeks.
After major banks in Hong Kong raised their prime interest rates in September this year, bank valuations became more cautious. CVI immediately fell below the 10-point level, and the decline in property prices expanded significantly over the same period. CCL fell below 170 points, temporarily fell by 4.87% for 6 consecutive weeks, and further approached the low of 160 points. In the past 9 weeks, CVI has continued to be at the bottom, indicating that the decline in property prices has not stopped, and the adjustment will be more obvious.