HK home prices rise for second straight month

Government data released on Wednesday showed private home prices rose for a second straight month in September, with the official index climbing 0.19 percent month-on-month to 320.8. On a year-on-year basis, home prices were up 9.3 percent, according to the figures from the Rating and Valuation Department. For the first nine months of the year, prices accumulated a rise of more than seven percent. By unit size, prices for small and medium-sized flats rose 0.16 percent from the previous month, and were up 9.3 percent year-on-year. Larger units saw a 0.8 percent monthly increase and a 9.5 percent annual gain. The rental index hit another record high, extending the upward streak to 11 months. The September reading stood at 212.2, up 0.47 percent from August and 6.2 percent higher than a year earlier. For the first nine months of the year, rents have climbed 5.8 percent. Edited by Aaron Tam