Hong Kong’s lived-in home prices rose for the 11th consecutive month to a 30-month high in April, even as the rate of growth slowed compared with March, while rents in the city rose to another record high.

According to the Rating and Valuation Department’s data, the private lived-in home price index in the city rose to 316.6 in April, representing a 0.89 per cent rise month on month. The growth was smaller than the 1.4 per cent jump in March. Lived-in home prices have increased 10.51 per cent year on year.

Rents rose 0.59 per cent to an index of 203.4. They grew 4.9 per cent year on year.

“Strong momentum in the primary market is driving a wider recovery across the sector,” said Eddie Kwok, executive director of CBRE, a valuation and advisory firm located in Hong Kong.

“Secondary home prices are also increasing as growing buyer confidence spreads across the residential market,” Kwok said.

In mid-sized flats, the price growth momentum was stronger. Prices for units sized between 753.5 sq ft (70 square metres) and 1,075.3 sq ft rose 10.36 per cent. Larger homes, sized 1,076 sq ft (100 square metres) and above climbed more gently, up only around 0.25 per cent.