[Explanation] On March 21, the People's Bank of China authorized the National Interbank Funding Center to announce that the 1-year LPR (loan base rate, the same below.) is 3.7%, and the LPR for more than 5 years is 4.6%. Flat, but the current LPR level has been at a nearly 3-year historical low.

Meng Xinxin, an analyst at the Index Division of the China Index Research Institute, said that the reduction in housing interest rates is good for potential demand, but it will take time for the policy to take effect.

  [Explanation] According to the data of the Middle Index Research Institute, in February 2022, the average price of new residential buildings in Baicheng fell for three consecutive months from the end of the month, and the decline turned to rise, up 1.89% year-on-year.

In terms of second-hand housing, the average price of second-hand housing in 100 cities in February ended the month-on-month decline for 4 consecutive months, stopped falling and turned up, up 2.72% year-on-year.

Meng Xinxin said that the loosening of mortgage interest rates will promote the transaction scale of the real estate transaction market.

  [Same period] Meng Xinxin, an analyst at the Index Division of the China Index Research Institute

  First of all, housing loan easing is more friendly to home buyers, because it reduces the cost of buying a house, because the interest rate of housing goods has been lowered, and the loan repayment is slightly less.

In fact, the purpose of doing this is that the current housing environment in our cities is relatively loose, and the purpose of this is to promote more. Whether it is our just-needed end or the improvement end, the release of their reasonable demand, so there is a difference in the transaction scale. must be promoted.

  [Explanation] Recently, many ministries and commissions have voiced that new loans should maintain a moderate growth to prevent and defuse the risks of real estate enterprises.

Meng Xinxin said that it is expected that various favorable policies will be further exerted in the future to stabilize the expectations of all parties, including the expectations of the real estate market, the credit policy environment will continue to be optimized and improved, and there is still room for lower mortgage rates, especially in cities with relatively high mortgage rates. .

  [Same period] Meng Xinxin, an analyst at the Index Division of the China Index Research Institute

  (Policy) It has some positive effects on the stable development of our market, such as promoting the recovery of transaction scale, restoring market confidence, etc.

Because the entire big market, whether it is some of its control policies, its goal is still stable, to ensure a stable and positive development of the entire real estate.

  [Explanation] According to statistics, as of now, in 2022, the average monthly transaction area of ​​new commercial residential buildings in 50 representative cities is about 20.11 million square meters, a year-on-year decrease of 40.6%.

In March, the market sentiment did not improve, and the year-on-year decline in transactions was still relatively large.

Meng Xinxin said that although the current credit environment has improved, it will take some time for the policy to take effect, and the impact of the epidemic has dragged down the market recovery.

  [Same period] Meng Xinxin, an analyst at the Index Division of the China Index Research Institute

  First of all, the first point is that the policy has not yet come into effect, because it will take some time for the policy to take effect.

The second point is that the epidemic is relatively serious now, especially in some cities or specific cities. This year's epidemic also involves the whole country. The epidemic is relatively serious, and it is also a drag on the recovery rhythm of the entire market.

  Reporter asked Baokui to report in Beijing

Responsible editor: [Li Yuxin]

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