The latest release of the University of Hong Kong's Hong Kong Residential Real Estate Series (HKU-REIS) indicating that, in July, the price of residential properties increased 0.08% since June rising 17.95% above the level seen in July 2012. Clearly, the slight pullback in prices seen late 2012 has been completely surpassed by another, notable leg up.
With the prior late-90s era peak having been bested handily by the latest price run up, it will be interesting to see how long this period of house price inflation can run.
The HKU-REIS is a set of property price indices constructed monthly using a “modified” repeat-sale methodology similar to that of the S&P/Case-Shiller indices yet suited to the Hong Kong property market.
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