China News Agency, Beijing, June 27 (Reporter Pang Wuji) A report released by the Shell Research Institute on the 27th stated that the second-hand housing market was repaired at a low level in the first half of this year, and the market volume and price and expectations have improved.
The transaction volume of second-hand housing in China's 50 cities in May and June continued to increase month-on-month.
The report pointed out that in the first half of the year, cities implemented policies based on the city, actively used the real estate control policy toolbox, and adopted measures including relaxing loan restrictions (reducing down payment, canceling mortgage subscriptions), purchase restrictions, sales restrictions, and shortening the tax exemption period. Boost market expectations and restore market circulation.
The financial credit environment that led to the rapid market downturn in the second half of last year has also improved significantly.
Under the combined boost of multiple factors, in May and June, the transaction volume of second-hand housing in the 50 Chinese cities monitored by the agency continued to increase month-on-month, with an increase of 14% and 25% respectively.
In the second quarter of this year, the transaction volume of second-hand houses increased by about 15% compared with the first quarter.
Among them, the market recovery of the core urban agglomeration is faster and stronger, especially the Yangtze River Delta urban agglomeration. With the improvement of the epidemic situation in Shanghai and the support of policies, Nantong, Hefei and other urban markets took the lead in recovering.
Shenzhen and Dongguan in the Greater Bay Area are also brewing recovery momentum at the bottom, and the month-on-month growth momentum is relatively obvious.
In terms of cities, the transaction volume of second-hand houses in Taiyuan, Shijiazhuang and Guiyang increased year-on-year in the first half of the year.
From the perspective of housing prices, the report pointed out that the prices of second-hand housing in major cities are close to the bottom.
Since June, the weekly second-hand housing price index in 50 cities has fallen by 0.3% month-on-month, which is narrower than the decline in May.
From a year-on-year perspective, the housing price indices in Beijing, Shanghai, and Quanzhou rose year-on-year in the first half of the year, and the year-on-year decline in housing prices in some cities began to narrow, indicating that housing prices are approaching the bottom.
Market expectations have also recovered from the bottom.
Since the end of last year, the second-hand housing climate index in the 50 cities has bottomed out and is now near the line of prosperity and decline.
The report pointed out that according to the historical policy transmission law, the recovery of the property market is divided into three stages: leading recovery, driving recovery and overall recovery.
At present, the market has reached the transition period from the first stage of recovery to the second stage, that is, strong second-tier and first-tier cities take the lead in repairing, and ordinary second-tier and below cities are expected to remain low.
The report predicts that housing prices in ordinary second-tier cities are expected to stabilize in August this year, and prices in some low-energy-level cities will stabilize by the end of the year.
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