ESTATE agents have reported resurgent interest in home-buying on the secondary market over the past few days, but are split as to whether the correction in prices is over.
Shih Wing-ching, managing director of Centaline Agencies, said inquiries had almost returned to the level they were in the final quarter of last year, with bargain hunters hoping to buy before prices began to rise again.
Sales activity plunged 60 per cent to 80 per cent and average prices fell close to 10 per cent after a rise in interest rates and Governor Chris Patten's pledge at the end of March to halt spiralling home prices.
Confidence has been buoyed by the success of Cheung Kong's Laguna City sale, which sold out in a day last Saturday, after registration for the 128 flats on offer was 5.5 times oversubscribed.
Cheung Kong was so encouraged by the response, it said yesterday an additional 104 units would be placed on the market this week.
The new units are in a block closer to the waterfront, with a slightly higher average asking price.
