Chan expects home prices to increase by 6 per cent in the first quarter, recovering some of the losses made last year.
Private home prices in one of the world’s most unaffordable housing markets fell a revised 15.2 per cent in 2022, the first drop since 2008, hit by the weakening economic outlook because of the Covid 19 pandemic and rising mortgage rates.
The biggest price increase was seen in small and medium sized units, measuring from 430 square feet to 752 sq ft, which rose 2.24 per cent, the most increase in 46 months, the data showed.
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