HONG KONG, Nov. 20 /PRNewswire-Asia/ -- The latest update on residential property market activity in Hong Kong is due in the coming week as the Hong Kong Monetary Authority publishes October's results of the residential mortgage survey. The survey covers both mortgage application and loans approved. As such, it is widely watched as a key lending indicator of future house price trends. Typically, activity leads house price movements by several months with the latest uptick in demand for mortgage likely to fuel further price growth into the year end.

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Fuelling the pick up in property prices in the Hong Kong territories has been the ultra loose monetary conditions imported from the US as a result of the economic policy of pegging the Hong Kong Dollar to the Greenback.

Housing activity in the UK to show further increase

The October lending figures from the British Bankers' Association (BBA) are due for release on Tuesday 24th. The continuing strength of the RICS new buyer enquiries series suggests that the volume of new mortgage approved last month will be a little higher than the 42,088 sanctioned by the major banks in September (the Bank of England releases more complete data the following week).

French housing construction has rebounded smartly

French housing starts for October are due for release by INSEE on Tuesday 24th. In September, starts on a not seasonally adjusted basis totalled 25,720. Taking a three month moving average to smooth out the volatility, starts totaled 28,519 in September.

Extension of tax credit to provide further support for US Housing

The coming week should provide a little more clarity as to the current state of the US housing market with key data on both prices and transactions due for release. Figures on existing home sales will be published on Tuesday 24th with the new home sales numbers released two days later.

Please download from the following for the complete report content: http://www.creativegp.com/RICS/RICSGlobalRealEstateWeekly-Nov20.pdf

For further details of RICS, please visit our website: http://www.ricsasia.org

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SOURCE Royal Institution of Chartered Surveyors

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