China News Service, Beijing, June 17 (Reporter Pang Wuji) After several months of recovery and rebound, the property market in many parts of China in May showed the characteristics of stabilizing growth and insufficient upward momentum.
According to data released by the National Bureau of Statistics of China on the 17th, in May, among the 70 large and medium-sized cities, 62 cities saw a month-on-month increase in the price of newly-built commercial housing, three cities' house prices were the same month-on-month, and five cities saw a month-on-month decline.
The number of cities where housing prices are rising, flat or falling are the same as last month.
It is worth noting that since March, the number of cities where the price of new homes has increased month-on-month has remained at 62 for three consecutive months, and has not continued to increase, showing signs of peaking.
The average month-on-month increase in new house prices in 70 cities has also stabilized.
According to statistics from the E-House Real Estate Research Institute, the price of new houses in 70 cities rose 0.5% month-on-month in May, which was the same as in April.
In addition, Li Yujia, the chief researcher of the Guangdong Provincial Housing Policy Research Center, pointed out that in May, among 70 cities, the number of cities that increased year-on-year (62) fell again, one less than the previous month.
The above three sets of data mean that the rise of new house prices across the country tends to peak, and the motivation to continue to rise has begun to weaken.
From the perspective of all tier cities, housing prices in first-tier cities remained high in May, and the month-on-month increase in new house prices in second- and third-tier cities was the same as last month.
Sheng Guoqing, chief statistician of the City Department of the National Bureau of Statistics, pointed out that in May, the sales price of newly built commercial housing in four first-tier cities rose by 0.7% month-on-month, a slight increase of 0.1 percentage point from the previous month.
The sales prices of newly-built commercial residential buildings in 31 second-tier cities and 35 third-tier cities increased by 0.6% and 0.4% respectively from the previous month, the same as the previous month.
Xu Xiaole, chief analyst of the Shell Research Institute, believes that the new housing market maintains high enthusiasm mainly due to the insufficient supply of land in key cities and the pre-sale price limit of new housing, and the demand for new housing projects exceeds demand.
In addition, some of the high-premium land parcels sold in key cities have also contributed to market expectations.
Especially in Chongqing and Guangzhou, the increase in new house prices in May continues to be the top two in the country, and the market is very hot.
Looking to the future, Li Yujia said that developers will increase their sales promotion efforts, but due to the high land prices in the early period, price limits in various regions are limited to the increase rate, not price reductions. In the future, the new house price index may still hover at a high level.
However, if the existing control policies are maintained, especially the financial tightening continues, the price of new homes is expected to fall by the end of the third quarter.
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