KUALA LUMPUR (Jan 7): Hong Leong IB Research has maintained its “Neutral” rating on the property sector and said the house price index (HPI) growth normalised back to long-term growth rate of 5% after rising by CAGG of 12.6% from 2010 – 2014.

In a note today, the research house said leading indicators such as loan application remain sluggish, declining y-o-y basis for tenth straight month.

It said the Johor region remain oversupplied in near term with incoming supply and planned supply amounting to 47% of existing stock.

“KL and Selangor remain core market with more balanced demand and supply dynamics.

“Some property stocks are trading close to 5 years historical low of P/B band. -- theedgeproperty.com

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