Hong Kong's secondary home price index has climbed for two consecutive weeks, with the latest readings pointing to renewed momentum in the property market.

The Centaline City Leading Index (CCL), which tracks the secondary residential market of major housing estates, rose 0.64% week-on-week to 162.16 points, holding steady against unchanged interest rates. With short-term expectations of rate hikes cooling, the CCL has advanced 1.46% over the past two weeks, breaking through the 162-point threshold to reach its highest level since late August 2023—a fresh peak in 155 weeks, or nearly three years.

The CCL Mass index, covering large housing estates, increased 0.7% week-on-week to 163.29 points, while the CCL Small and Medium-Sized Units index rose 0.67% to 161.94 points. Both indices have gained for two straight weeks, each accumulating a 1.35% rise and hitting their highest points since early August 2023—a milestone after 158 weeks, or over three years.

Meanwhile, the CCL Large Units index advanced 0.50% week-on-week to 163.28 points, marking a third consecutive weekly gain of 2.75% and reaching a near-three-year high unseen since early October 2023, a span of 149 weeks.

Regionally, prices rose in three of the four major districts. In the New Territories East, the CCL Mass surged 2.67% to 180.01 points, recording the largest weekly jump in 29 weeks since late January 2026 and setting a fresh high after 167 weeks, or over three years. The Kowloon CCL Mass climbed 0.98% to 159.99 points, ending a three-week losing streak and ranking as the fourth-highest reading in 159 weeks, or over three years, since late July 2023. In the New Territories West, the CCL Mass edged up 0.14% to 143.79 points, extending a two-week advance of 0.76% and marking the eighth-highest level in 149 weeks, or nearly three years, since early October 2023.

Conversely, Hong Kong Island saw the CCL Mass dip 0.57% to 166.28 points, easing after a sharp rise of over 3% in the prior week, though it still holds the second-highest reading in 158 weeks, or over three years, since early August 2023.

According to senior analysts, the recent launch of several large-scale new developments has sparked strong market interest, lifting overall sentiment. Sellers are holding firm on pricing, with some urban units even being withheld from sale, creating a standoff in the secondary market and slowing transaction volumes. Buyers with urgent needs are forced to chase prices to secure desired properties, suggesting that prices are likely to keep trending upward in the near term, albeit at a slower pace. The CCL's target for the third quarter stands at 165 points, requiring only a further gain of 2.84 points to reach it.