The effect of the policy of stabilizing the property market has gradually emerged, and the second-hand housing transactions in many places have recovered moderately

　　Our reporter Peng Yan

　　Since the beginning of this year, many places have successively introduced real estate control measures.

With the help of the continuous property market stabilization policy, the transaction volume of second-hand housing in many places recovered rapidly.

"Securities Daily" reporters recently surveyed the property markets in Hangzhou, Nanjing and other places and found that the policy effect has gradually emerged, and the second-hand housing market transactions have recovered moderately.

　　During the year, Hangzhou has successively introduced real estate control measures, and as a result, it has repeatedly occupied the hot search list of the real estate market. At present, Hangzhou has lowered the mortgage interest rate 5 times during the year. The mainstream bank's first-home loan interest rate has dropped to 4.7%, and the second-home loan interest rate has dropped to a minimum of 5.1%.

　　On May 17, Hangzhou issued the "Notice on Further Promoting the Stable and Healthy Development of the Real Estate Market" to clarify and optimize the second-hand housing transaction policy.

A staff member of a real estate agency in Hangzhou told reporters, "After the release of the New Deal, the number of viewings has increased significantly, and the transaction volume of second-hand houses has also increased significantly."

　　According to data from Hangzhou Shell Research Institute, in May 2022, more than 4,100 residential units were sold in Hangzhou, of which, before the New Deal (May 1 to May 16), the average daily transaction exceeded 90 residential units. On March 31), the average daily transaction exceeded 180 residential units, and the number of residential online signatures increased by 83% due to the impact of the new policy.

In addition, according to the data from Kerui, the transaction volume of second-hand housing in Hangzhou continued to show a high trend in June.

　　Since April, Nanjing has adjusted its property market policy frequently, not only relaxing the purchase restrictions many times, but also loosening the property market by relaxing the sales restrictions, adjusting the housing provident fund policy, and increasing the number of houses purchased by families with multiple children.

A staff member of a real estate agency in Nanjing told reporters that since June, the transaction volume of second-hand housing in Nanjing has indeed picked up.

From the perspective of transaction trends, the market has experienced a clear upswing since the policy was relaxed.

"The owner's price expectations are not so high, and some owners have taken the initiative to lower the listing price."

　　In addition to Hangzhou and Nanjing, after the relaxation of regulation in strong second-tier cities such as Chengdu and Suzhou, second-hand housing transactions also increased significantly.

Behind the recovery of the second-hand housing market, the decline in mortgage interest rates is one of the driving forces, leveraging the release of market demand.

Liu Lijie, a market analyst at the Shell Research Institute, told reporters that the decline in mortgage interest rates combined with the reduction of down payments and cancellation of mortgage subscriptions in some cities will substantially increase the purchasing power of home buyers and help speed up market transactions.

In the first half of June, the average daily transaction volume of second-hand housing in Shell 50 cities was over 20% higher than the average daily level in May.

At present, more than 40% of the 103 cities have mortgage interest rates higher than the lower limit, and there is still room for interest rate cuts in the future. Combined with the support from local policies since June, this is conducive to the restoration of market transactions in June and the second half of the year.

　　Li Yujia, chief researcher of the Guangdong Housing Policy Research Center, believes that it is expected that the superimposed effect of policy measures including epidemic relief, incentives for the property market, and the central bank's interest rate cuts will be fully manifested in the second half of the year.

A bottom in house prices and sales has begun to emerge.

　　The Shell Research Institute believes that, according to the law of historical policy transmission, the market recovery is divided into three stages: leading recovery, driving recovery and overall recovery. Drive recovery) transition, that is, strong second-tier and first-tier cities take the lead in restoration, while ordinary second-tier and below cities are expected to remain at a low level.

Based on this deduction, the housing prices of ordinary second-tier cities will stabilize in August this year, and the housing prices of some low-energy-level cities will stabilize by the end of the year.

(Securities Daily)