FLAT prices at the Luk Yeung Sun Chuen estate in Tsuen Wan have stabilised at a three-month plateau after a dramatic price increase in August when the average price rose to $3,445 per square foot.
Between September and November, average prices at the eight-year-old estate increased by only $7 per square foot.
Brooke Hillier Parker research manager Anna Sze said the levelling out in prices was an encouraging sign for flat owners in the light of sales evidence at similar residential estates where values had gradually declined since the third quarter.
The August price rise coincided with a surge in buying activity. The average price rose by $149 per sq ft from the July average of $3,296.
Prices dropped quickly in September; by November, prices at Luk Yeung Sun Chuen were only marginally higher than the June average.
Flats in the estate range from 500 to 700 sq ft.