* Home price changes are calculated by HKU Real Estate Lab using the the repeat-sales method. Further information can be found in Appendix B of the paper  Policy Responses to an Overheated Housing Market: Credit Tightening versus Transaction Taxes. The district-based repeat-sales indices have been utilized in various studies, including those on  Covid-19 vs SARS,  developers’ market power, and  urban renewal. For monthly price indices across the entire city, please refer to  HKU-REIS.