Sales of second-hand homes rebounded about 50 per cent over the weekend compared with the previous weekend, property agents said. Centaline Property Agency data showed that 41 flats were sold on April 6 and April 7, up 52 per cent on the 27 units that changed hands a week earlier. (March 31 and April 1). However, sales were still 46 per cent below this year's peak of 76 units, recorded during the weekend of February 25 and February 26, Centaline said. Jeffrey Ng, senior executive director of Hong Kong Property Services Agency, said: 'Many home seekers travelled outside Hong Kong during the holiday break.' He said sales volume could have been higher if not for the long weekend. Citing its own survey, Midland Realty said 71 second-hand homes were sold during the four-day holiday that ended yesterday, up 45 per cent on Easter 2011. Louis Chan Wing-kit, managing director (residential) of Asia-Pacific at Centaline Property Agency, said: 'Sales activity will continue to grow after the long holiday.' However, Patrick Chow Moon-kit, head of research at Ricacorp Properties, predicted that home prices would start to stabilise after surging in recent weeks. 'Rising prices may cool would-be homebuyers' appetite. Sentiment has also apparently been hit by the Financial Secretary's warning on the market,' Chow said. On Sunday the Financial Secretary, John Tsang Chun-wah, warned of a possible property price bubble and urged buyers not to dash mindlessly into the market. Writing in his official blog, Tsang said he remained highly concerned about the risk of bubbles in the property market. He said property prices had risen 74 per cent since early 2009 and were 5 per cent higher than in 1997. Some housing estates saw even faster growth. According to Centaline Property, home prices in Taikoo Shing were 25 per cent higher than at the peak in July 1997, at HK$10,384 per square foot. Last Friday, the Centa-City Leading Index, a weekly measure of home prices from Centaline, said prices for second-hand flats on Hong Kong Island had edged up 1.37 per cent week-on-week to 112.3 during the week ending March 26. The index is based on a complex formula that takes into account different areas of the city and different flat sizes. The index uses July 1997 as the base period. Chow said he expected home prices would continue to rise this year if the global economy remains stable. However, Citic Securities International predicts that secondary market home prices will drop 5 to 7 per cent over the next 6 to 12 months. Demand from speculators and short term investors would continue to be subdued because of special stamp duties and unfavourable mortgage policies, the company said in a recent report.