Weekend sales growth fails to lift outlook for secondary home market

Sales of second-hand homes rose over the weekend, but property agents expect a weakening secondary market in view of new launches by developers in the fourth quarter.

Data from Midland Realty shows that 34 second-hand flats were sold in 10 selected housing estates on October 6 and 7, representing an increase of 13.3 per cent compared with the previous weekend.

Centaline Property Agency found in its survey that 33 units were sold at 10 selected estates, up 10 per cent from the preceding weekend.

via Business feed http://www.scmp.com/business/article/1056162/weekend-sales-growth-fails-lift-outlook-secondary-home-market