China News Service, Beijing, November 1 (Reporter Pang Wuji) The traditional peak season of the property market "Golden Nine Silver Ten" has passed, and the Chinese property market is expected to show no significant improvement.

　　According to data released by the China Index Research Institute on the 1st, in October 2022, the average price of new residential buildings in 100 cities across the country was 16,199 yuan per square meter, down 0.01% from the previous month and 0.01 percentage points lower than the previous month.

This is the fourth consecutive month-on-month decline in new home prices in Baicheng.

　　The second-hand housing market has taken longer to adjust.

In October, the price of second-hand housing in Baicheng fell by 0.16% month-on-month, the sixth consecutive month of decline.

Among the 100 cities, the number of cities where second-hand housing prices fell month-on-month increased to 75.

　　Behind the weak housing prices, the transaction of commercial housing continued to be sluggish.

According to preliminary statistics from the China Index, from January to October 2022, the average monthly transaction area of ​​new commercial residential buildings in key 100 cities was about 31.09 million square meters, a year-on-year decrease of over 30%, and the overall market sentiment was low.

　　Among them, the "Golden Nine Silver Ten" property market has not seen a significant recovery.

In September, the transaction area of ​​commercial housing in key cities increased by 6.1% month-on-month and decreased by 19.1% year-on-year.

Entering October, due to factors such as repeated epidemics in many places, market sentiment has not improved significantly.

According to preliminary statistics, the transaction area of ​​commercial housing in key 100 cities decreased by about 10% month-on-month, and the year-on-year decrease was still about 20%.

　　Control policies continued to be optimized.

According to the agency's statistics, from September to October, more than 160 localities across the country issued more than 230 policies. The policies mainly involve optimizing purchase restrictions, reducing down payment ratios, lowering mortgage interest rates, increasing provident fund loan quotas, issuing house purchase subsidies, and reducing housing sales restrictions. In other respects, some cities have combined housing policies with maternity, pension, leasing, etc., and continued to improve the policy toolbox.

Among them, the pace of policies accelerated significantly in September, and the frequency of policies decreased in October (excluding the reduction in the interest rate of the first set of provident fund loans).

At present, more than 20 cities have lowered the lower limit of the first-home commercial loan interest rate to below 4%, including second-tier cities such as Wuhan and Tianjin; more than 100 cities have lowered the first-home provident fund loan interest rate.

　　Chen Wenjing, market research director of the Index Division of the China Index Research Institute, said that the current wait-and-see mood of home buyers is still relatively heavy, and the repeated epidemics in many places have further dragged down the pace of market recovery.

In the short term, the recovery of the market still depends on the recovery of macro fundamentals, the effect of epidemic prevention and control, and the optimization of policies.

(Finish)