Hong Kong's home prices rebound faster to one year high

Hong Kong private home prices last month saw the growth widen and returned to the level seen last August amid the restart of the interest rate cut cycle, official data on Tuesday showed. 

Home prices rose 1.3 percent month-on-month in September, versus August's 0.2 percent, according to the latest data from the Rating and Valuation Department.

The growth in the fourth consecutive month pushed the index to a new high for over one year.

The costs of residential properties swung to an increase of 1.1 percent in the first nine months of the year. But they are still over 26 percent lower than the record high in September 2021. 

Prices of small and medium-sized flats advanced by 1.3 percent month-on-month in September, while bigger flats grew at a faster pace of nearly 1.4 percent in the month. 

Meanwhile, the rental index hit a new high for over six years after rising by 0.2 percent monthly. It was up for 10 months in a row. Rents increased by 3.9 percent for the first nine months.