During the year, 36 cities have issued favorable policies, and the bottom of the property market transaction is expected to appear in the first half of the year

　　Our reporter Du Yumeng

　　With the current real estate market sentiment and the marginal recovery of the credit environment, good news of the real estate market in many places is frequent.

Recently, after many commercial banks in Heze lowered the proportion of first home loan, it is reported that some banks in Chongqing and Ganzhou have also joined the team of "first home loan down payment ratio of 20%".

　　In this regard, a reporter from "Securities Daily" called a number of joint-stock banks, large state-owned banks and some real estate agencies in Ganzhou, and the relevant staff told reporters that the above situation was true.

An insider of a large state-owned bank in Chongqing told reporters that as early as the end of last year, some banks could make a 20% down payment for the first house.

　　Yan Yuejin, director of the Think Tank Research Center of the E-House Research Institute, said in an interview with a reporter from Securities Daily that under the 2021 housing loan concentration management policy, even for the first home loan, the practice of implementing a 20% down payment ratio in various places is still very small.

For homebuyers, the level of down payment is undoubtedly a content that has a greater impact.

Recently, the down payment ratio of the first home loan has been reduced to 20%, which not only reflects the positive changes in the current real estate market situation and the real estate financial situation, but also has a good signal significance.

Overall, the move will have a positive impact on boosting market trading.

　　Chen Wenjing, deputy research director of the Index Division of the China Index Research Institute, also told reporters that the reduction of the down payment ratio in some places is expected to have a better drive for market sentiment.

At the same time, more cities may follow suit in the future, especially third- and fourth-tier cities with weak urban fundamentals and greater market adjustment pressure.

　　Although it is still unrealistic for some key cities, especially those that implement "purchase restrictions", to reduce the down payment ratio for housing loans, it can also be seen that banks' lending and loan approval speeds have accelerated significantly.

　　For example, for Hangzhou, which has repeatedly grabbed the hot search list in the property market last year, a staff member of a joint-stock bank told reporters that the current mortgage loan amount of the bank is relatively loose. There was a significant reduction last year.

A similar situation is also playing out in Beijing.

　　According to the monitoring data of the Shell Research Institute, in January 2022, the average mortgage interest rate and loan cycle in 103 key cities have returned to a reasonable level in mid-2021, of which 59 cities have reduced the mainstream mortgage interest rates month-on-month.

In terms of lending cycle, the lending cycle in 64 cities was shortened compared with the previous month, and the lending cycle of banks in 4 first-tier cities was accelerated.

　　The data also shows that in January, the mainstream first-home loan interest rate in the 103 key cities it monitored was 5.56%, and the second-home loan interest rate was 5.84%, both 8 basis points lower than the previous month. The average loan period in January was 50 days, which is higher than the previous A month is shortened by 7 days.

　　Ye Yindan, a researcher at the Bank of China Research Institute, said in an interview with the "Securities Daily" reporter that since the fourth quarter of 2021, the housing credit policy has improved marginally, the residential loan interest rate has begun to decline, the growth rate of personal mortgage loans has rebounded, and commercial banks have released loans. The rhythm has accelerated, and the reduction of LPR has brought down the mortgage interest rate, and some rigid and improved demands are gradually recovering.

Overall, considering that credit conditions typically lead housing sales by 6 to 9 months, it is expected that the credit lag effect will begin to manifest in the third quarter of this year, and housing demand will gradually recover.

　　It is worth mentioning that, in addition to the recent reduction in the mortgage down payment ratio, which has attracted much attention recently, many cities across the country have issued relevant adjustment policies since the beginning of this year.

　　According to statistics from the Central Plains Real Estate Research Institute, with the stabilization of credit policies, policies for stabilizing the property market in various regions have been released frequently. The most typical policy contents are the adjustment of provident fund policies, talent subsidies and housing subsidies.

As of early February this year, more than 36 cities across the country have issued policies to stabilize the property market.

　　Zhang Dawei, chief analyst of Centaline Real Estate, said in an interview with the "Securities Daily" reporter that with the emergence of the bottom of the real estate market policy, the bottom of the market transaction has gradually begun to approach.

It is expected that the market bottom is expected to accelerate in the first and second quarters of this year.

(Securities Daily)