The property market continues to be strictly regulated. Since July, more than 30 cities have tightened their property market policies
Since the second half of this year, the central government has repeatedly emphasized "no speculation in housing and housing," and local regulatory policies have continued.
The continued increase in policies has slowed down the increase in new house prices in many places, and from the perspective of the property market in December, the regulation continued to be strict.
On December 14, the National Bureau of Statistics released the changes in the sales prices of commercial housing in 70 large and medium-sized cities in November 2020.
From the perspective of changes in new house prices, the price increase in November has significantly narrowed.
Among the 70 large and medium-sized cities, the number of cities with rising new house prices fell to 36, the lowest value since March, while the number of cities with falling prices increased to 28, reaching the highest value since April.
In terms of growth rate, the month-on-month growth rate of each tier city converged to a low of 0.1%-0.2%.
Fang Ying, Shanghai Research Director of the Zhongzhi Research Institute, pointed out that the most important thing for the slowdown in new house price growth is the continuous policy control. Since July, the central and local controls have been tightened to stabilize market expectations.
The central government emphasizes rapid response and disposal of problems found, and timely targeted policy measures.
The cities with regulatory policies have gradually expanded from the hot second-tier cities in the third quarter to some third- and fourth-tier cities.
At the same time, under the background of sufficient short-term supply in the market, real estate companies inevitably take the action of promotion and discount on the price side in order to offset the performance, and exchange price for volume.
Some cities have also tightened credit and increased down payment ratios.
Property market regulation continued to be strict in December, and many cities increased property market regulation
In the first half of December alone, many cities increased their property market regulation.
On December 1, the Xi’an Housing and Urban-Rural Development Bureau’s official WeChat account issued the “Notice on Further Strengthening the Regulation of the Real Estate Market”. The “Notice” clearly adjusted the down payment ratio of commercial loans for the purchase of the second house and adjusted the down payment ratio of provident fund loans; Strengthen the pre-sale management of commercial housing and strengthen the supervision of pre-sale funds.
Among them, for households in Xi'an that have a housing area of 90 square meters or less: for the purchase of a second housing area of 144 square meters or less, the commercial loan down payment ratio shall not be less than 40%; for the purchase of a second housing area For those above 144 square meters, the down payment ratio for commercial loans is not less than 50%.
Ningbo City, Zhejiang Province, issued the "Supplementary Notice on Further Maintaining and Promoting the Stable and Healthy Development of the City’s Real Estate Market" on December 10. The "Notice" focuses on strengthening the management and control of housing purchase qualifications, strengthening the management and adjustment of housing purchase contract renaming, and housing gift transaction management. Four aspects including the housing loan down payment ratio have supplemented and improved the July 6 regulation and control policy.
Among them, it is clear that the purchase of a house less than two years after the divorce should check the house of the family before the divorce, and the down payment ratio for the second house will be increased to 60% for buyers who have not settled the loan and apply for a commercial loan to purchase the house again.
Industry insiders believe that the introduction of property market control policies in cities such as Xi'an and Ningbo at the end of the year reflects the policy's continued emphasis on tightening control and strict market control, and curbing speculation in the property market.
Pan Hao, a senior analyst at the Shell Research Institute, pointed out that in July this year, the Ningbo Municipal Government and the Housing and Urban-Rural Development Bureau issued two regulatory policies to stabilize housing prices and curb real estate speculation.
This policy is aimed at cracking down on the phenomenon of using parents to join in, divorce, and donate to increase the number of home buyers to invest in home purchases.
In addition, compared with the 2017 policy, this policy also added a 40% down payment ratio for re-applications that have already been settled, and the unsettled ones increased from 40% to 60%, which shows that the loan threshold has also increased accordingly.
The policy has been upgraded in many respects to fully curb the overheated development of the market.
The Shell Research Institute believes that since late November, the control density has increased again.
In the mid-to-long term, real estate regulation will continue the basic tone of housing price fluctuations, stabilize housing price fluctuations, continue to deepen housing financial regulation, and strictly control the leverage at both ends of supply and demand. The momentum for housing price increases in 2021 will be further weakened.
Since July, more than 30 cities have tightened property market control policies
According to data from Centaline Real Estate Research Center, since July, more than 30 cities including Hangzhou, Dongguan, Ningbo, Inner Mongolia, Zhengzhou, Shenzhen, Nanjing, Changchun, and Haikou have introduced regulatory policies to cool the property market.
According to statistics from the Shell Research Institute, Changzhou, Shenyang, Hangzhou, Dongguan, Wuxi, Shenzhen, Nanjing, Ningbo, Dalian, Chengdu, Maanshan, Shiyan, Tangshan, Yinchuan, Xi’an, Xuzhou, Shaoxing, Lishui, Quzhou, Taizhou, Haiyan counties A total of 22 cities in Huangshi have issued restrictions on sales and purchases to regulate the development of the real estate market, and raise the threshold for loans and real estate resale to prevent overheating of the market and further combat investment demand.
Zhang Dawei, chief analyst of Centaline Property, said that the first half of 2020, when the real estate regulation is the most relaxed, has passed, and tightening of regulation is inevitable.
From the perspective of the national market, there were more active cities from July to November, especially cities such as Shenzhen, Dongguan, Ningbo, Nanjing, Chengdu, and Hangzhou.
The Wuhan market, which deserves the most attention, also showed obvious stabilization, with a significant increase from the previous month.
From the perspective of housing price expectations, the number of visitors in most cities has increased significantly compared to before, and housing prices have shown an upward trend.
Zhang Dawei said that as the market heats up, the policy orientation for maintaining market stability has clearly shifted from July. In the following months, there have been multi-city tightening policies, and restraining market overheating has become a new feature of regulatory policies. It has accumulated more than 32 cities. Various tightening policies have been introduced.
Looking at the overall trend, it is expected that the trend of rising housing prices in December will continue, but more and more control policies are expected to stabilize the market, and housing prices will continue to slow down at the end of the year.
The Paper Journalist Ji Simin