The estimate, released jointly by property website 99.co and SRX, showed that only resale prices in the core Central District rose last month, by 2.5 per cent, while prices for private homes in the other Central District and outside the Central District fell by 0.2 per cent and 1.2 per cent respectively.

Overall private flat resale prices rose by 8.6 per cent last month compared to the same month a year earlier.

In terms of transaction volume, only an estimated 519 units changed hands last month, down 22.6 per cent month-on-month and a significant 43.2 per cent year-on-year.

Analysts said the end of the school holidays and the return of most people to work had prompted potential buyers to delay buying flats.

In addition, resale transactions slowed as more people chose to visit friends and relatives during the Lunar New Year period due to the relaxation of anti-epidemic measures.