HK August home prices hit record high

Hong Kong

HONG KONG's home prices rose for a fifth consecutive month to hit a record high in August, official data showed, overcoming concerns an expected interest rate hike in the US may dampen demand in one of the world's most expensive property markets.

An official index of overall private home prices for August edged up 1.1 percentage points month on month to 305 points. That's 16.8 per cent higher than the year before and a fifth straight monthly gain.