China News Agency, Beijing, June 15 (Reporter Pang Wuji) In the first five months of this year, many indicators of China's property market experienced a deeper year-on-year decline.
However, core indicators such as investment and sales all rebounded in May.
According to data released by the National Bureau of Statistics of China on the 15th, from January to May, China's real estate development investment was 5,213.4 billion yuan (RMB, the same below), a year-on-year decrease of 4.0%.
In the past year, the cumulative growth rate of real estate development investment has declined month by month, and turned negative in April this year, down 2.7% year-on-year.
From January to May, the year-on-year decline of this indicator was 1.3 percentage points higher than that from January to April.
Wang Xiaoqiang, chief analyst of Zhuge Housing Data Research Center, pointed out that the cumulative growth rate of real estate development investment from January to May hit a new low since April 2020.
In addition to real estate development investment, from January to May, the other three indicators reflecting the supply side: real estate development enterprises' housing construction area, housing newly started area and housing completion area all declined year-on-year.
Among them, the area of new housing construction fell the most, down 30.6%.
Wang Xiaoqiang said that this means that the enthusiasm of supply-side real estate companies is not high, and there is still some pressure.
The largest drop in new construction also reflects the lack of motivation for housing companies to acquire land to replenish inventory.
From the perspective of sales, data released by the National Bureau of Statistics shows that from January to May, the sales area of commercial housing was 507.38 million square meters, a year-on-year decrease of 23.6%.
The sales of commercial housing were 4,833.7 billion yuan, down 31.5%.
During the same period, the year-on-year decline in the funds in place for housing enterprises also expanded by 2.2 percentage points, down 25.8% year-on-year.
Although the cumulative growth rate is still declining year-on-year, statistics from many institutions have found that in a single month in May, property market investment and sales have rebounded.
Xu Xiaole, chief market analyst of the Shell Research Institute, pointed out that in May, the sales area of commercial housing nationwide increased by 25.8% month-on-month, and sales increased by 29.7% month-on-month.
This is the first month-on-month increase in sales of commercial housing since the beginning of this year.
Real estate investment and construction also improved.
In May, the investment in commercial housing development and the newly started area increased by 14% and 20% respectively month-on-month.
Since June, policy support for the property market in various regions has continued to strengthen, and policies such as financing support for housing enterprises and risk relief have also been further implemented.
Xu Xiaole said that the policy effects on both ends of supply and demand will continue to be released in the later period, and the sales of commercial housing and real estate investment in a single month in June are expected to continue to improve month-on-month.
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