Figures confirm buyers in command

Prices in popular housing estates fell by an average of 11 per cent in the first half of this year.

Provisional statistics from the Rating and Valuation Department's monthly price indices for 50 selected popular developments showed prices for larger homes suffered less of a drop than smaller units.

Geographically, housing prices in urban areas fared better, falling less than those in the New Territories.

Overall, larger homes saw prices drop 4.8 per cent in the half.

Those in urban housing estates lost 3.6 per cent against a drop of 8.5 per cent for New Territories properties.

For small to medium-sized flats, the overall price index reflected an 11.6 per cent decline over the six months.