China News Service, Beijing, October 20 (Reporter Pang Wuji) In September, the real estate market in China's large and medium-sized cities further cooled down, and the prices of new houses in many places stopped rising or even turned down.
According to data released by the National Bureau of Statistics of China on the 20th, in September, among the 70 cities in China, the price of newly built commercial housing in 27 cities rose month-on-month, 19 cities less than the previous month; 7 cities were flat, 3 more than the previous month; cities that fell 36, an increase of 16 cities from the previous month.
According to estimates, in September, the average month-on-month increase in the price index of newly built commercial housing in 70 cities across the country was -0.1%. This is the first time since May 2015 (more than 6 years) that the monthly month-on-month increase in housing prices in 70 cities has been negative.
Prices of new houses in all tiers of cities stopped rising across the board.
Sheng Guoqing, chief statistician of the City Department of the National Bureau of Statistics, pointed out that in September, the sales price of newly built commercial housing in first-tier cities rose 0.3% from the previous month to the same level; the sales price of new commercial housing in second-tier cities rose 0.2% from the previous month to the same level. ; Third-tier cities changed from flat to down 0.2%.
September is the peak season for traditional real estate sales. Why are the housing prices in China’s 70 cities accelerating to cool down?
According to the analysis of the Zhuge Housing Search Data Research Center, in recent months, real estate companies facing the pressure of the "three red lines" have been offering discounts and promotions in order to accelerate the collection of payments.
Over the same period, the property market regulation has been escalated frequently, from strengthening purchase restrictions to issuing second-hand housing guidance prices, and then cracking down on housing speculation in school districts, the number of cities tightening property market regulation is constantly increasing.
The sales pressure faced by real estate enterprises has increased, and the phenomenon of price-for-volume exchange has increased.
Li Yujia, chief researcher of the Guangdong Provincial Housing Policy Research Center, believes that the decline in new house prices in 70 cities in September was mainly due to the cooling of housing prices in third- and fourth-tier cities.
Taking Guangdong Province as an example, leading real estate companies have taken the lead in reducing prices, and new housing projects in third- and fourth-tier cities have generally been discounted and promoted. The prices of some properties have fallen by more than 15%.
This kind of discount promotion has also spread to peripheral areas of central cities, such as Zengcheng, Guangzhou.
On the other hand, hot cities have launched a new round of price restrictions and strictly controlled pre-sale approval prices. Many cities do not allow new batches of projects to enter the market with prices higher than before.
In addition to the new housing market, the second-hand housing market in 70 cities has cooled more significantly.
Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, pointed out that the sales price index of second-hand housing in 70 cities across the country fell 0.2% month-on-month in September.
The price index of second-hand housing in the first, second and third tier cities all entered a downward channel.
Xu Xiaole, chief market analyst of the Shell Research Institute, pointed out that the price of second-hand housing in first-tier cities has fallen more than that in second- and third-tier cities. The main reason is that first-tier cities are dominated by stock houses. The supply and demand sides are expected to adjust faster due to tight credit and regulation.
The price of new houses in third-tier cities fell first, because the third- and fourth-tier cities are dominated by the new house market, and real estate companies have more urgent demands for project de-sale and sales return, which has caused downward pressure on new house prices to exceed that of second-hand houses.
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