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China’s housing market continued to vary in October, with new home prices rising slightly and second-hand home prices continuing to fall. However, second-hand home transactions have increased significantly in major cities. With policy support, new home prices have bottomed out and second-hand home activity is expected to continue.
The latest data from China Real Estate Research Institute, China Index Research Institute shows that in October, 100 new cities in Chinahouse price The price increased by 0.18% compared with the previous period, and the annual increase was 2.02%; The average price of older homes fell 0.61% from the previous period, and the annual decrease was 6.72%. According to Anjuke data, the transaction volume of second-hand housing in 20 major cities in October increased by 20% on the same year, and the growth rate was significantly higher than that in September. The popularity of second-hand housing users increased by 34.3% in October compared to the previous period. This shows that second-hand housing transactions are active and prices are still being adjusted.
Taking the first-tier city Shanghai as an example, the official website of Shanghai Real Estate Trading Center “Onlinereal estate “Data show that in October, the number of second-hand homes in Shanghai was signed online for more than 24,000 units, an increase of 4% from the previous month and an annual increase of 32%, reflecting the trend of the “Silver Ten” outperforming the “Golden Nine”; the number of new homes signed online exceeded 7,000 units, a decrease of 37% from the previous period and There is an annual increase of 5%.
Securities Daily reported that Zhang Bo, president of 58 Anjuke Research Institute, said that this year’s “Golden Nines and Silver Ten” is a typical structural peak season, and the second-hand housing market has performed outstandingly.
Cao Jingjing, general manager of the index research department of the China Index Research Institute, said that second-hand housing market transactions remained flexible in October, and the second-hand housing markets in Beijing, Shanghai and some second-tier cities remained highly active. In the new domestic market, Beijing’s initial supply growth has driven transaction growth, and high-quality projects in core areas of some cities are selling well, but the annual growth rate in most cities is still declining.
China’s policy to stabilize the housing market is gradually yielding results. Zhang Bo pointed out that the current round of property market conditions has been affected by the “Notice on Reform of the Commercial Housing Sales System” and residents’ buying of houses.loan The cumulative release effect of policy effects such as interest rebate policies. The policy of subsidizing interest rates on residential home purchase loans has an excellent effect in supporting third- and fourth-tier cities, with a coverage rate of more than 44%. In addition, the implementation of the existing home sales system has lengthened the development cycle of real estate companies, leading to a reduction in the supply of new homes in the short term. The reduction in supply of new homes will reduce demand for second-hand homes and the transmission effect may be concentrated in 2027.
Looking at the market outlook, Cao Jingjing believes that the interest rate discount policy for residents’ home purchase loans will help reduce residents’ home purchase costs, plus the year-end promotions of real estate companies and the entry of high-quality projects in main cities are expected to provide some support for new home transactions, but the overall downward trend will continue. Second-hand house transactions are expected to maintain a certain level of activity, but due to the market’s still weak expectations, second-hand house prices are expected to remain slightly down.
Summary FAQ
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In October, the price of new homes in 100 cities increased by 0.18% from the previous period, and an annual increase of 2.02%; The average price of older homes fell 0.61% from the previous period, and an annual decrease of 6.72%. In terms of transaction volume, the transaction volume of second-hand homes in 20 major cities increased by 20% year-on-year, showing a different pattern of weak volume growth and weak price.
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The number of second-hand homes signed online in Shanghai in October exceeded 24,000, a monthly increase of 4% and an annual increase of 32%, clearly outperforming the “Golden Nine”; The number of new homes signed online exceeded 7,000, a monthly decrease of 37% and an annual increase of 5%. This suggests that second-hand housing is more popular, while new housing is relatively weaker.
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Experts believe that the interest rebate on home purchase loans and the adjustment in the supply system are gradually taking effect and can support new home transactions, but the overall situation is still at a low level. Second-hand housing transactions are expected to remain active, but prices may still fall slightly due to weak expectations.
