The property market fell nearly 40% in volume last week

The property market in Shanghai suffered another blow. The turnover fell by nearly 40% in the week. At the same time, there was a blowout in the supply area of ​​newly constructed commercial apartments last week, reaching 70% of the city's supply in July last year. Industry insiders frankly stated that last week, the supply of commercial housing was 85.91% more than the transaction volume, which was about 130,000 square meters. It continued to increase the “inventory”. Under the “off season”, it encountered urgent need for payment, and the housing enterprises would fear competition. More intense.

According to the latest data from CRIC, China Real Estate Information Group, a total of 6 projects launched a total of 248,600 square meters of new listings last week. As of July 10, a total of 1.28 million square meters of housing were listed on the market, which was significantly more than the same period last year. Statistics from real estate in the 21st century also showed that the area of ​​pre-sales of newly-built residential projects in the city last week was approximately 281,000 square meters, up 77.8% from the previous month, reaching 70% of the city's supply in July last year.

However, there was no corresponding rebound in transactions. Weekly turnover fell rapidly last week after breaking the 200,000-square-meter mark in the previous week. Shanghai SouFun data monitoring center statistics showed that the turnover of commercial residential housing market in Shanghai last week totaled 151,000 square meters, down 34.6% month-on-month; in district/county transactions, only Yangpu District's transaction area increased by 22.5%, and the rest of the districts appeared. A certain degree of decline.

In terms of housing types, the high-end residential buildings with more than 40,000 yuan per square meter continued to rebound on the basis of the previous week. It only fell by 8.20% and closed at 14,672 square meters, resulting in a relatively higher weight of high-end residential transactions, driving the average transaction price of commercial housing. It continued to rise by 2.55% to reach 23,050 yuan/square meter, and hit a new high of average transaction price in the past 11 weeks.

In this regard, Deyou Real Estate Research Director Lu Qilin frankly stated that the transaction fell after maintaining a two-week high, reflecting that the recent peak of transactions was dependent on a large number of transactions in a few individual projects, and the overall market was still unable to shake off the downturn. In addition, there are also some developers in the performance of the performance of the end of June, to some extent, overdraft volume. As the sales of high-end homes are bound to increase the average weekly price, with the deepening of the off-season, prices and prices will fall.

The stock market pressure increased sharply due to the supply of two days of turnover, making the property market stock pressure increased sharply. Industry insiders frankly stated that entering July, the sharp decline in transaction volume in the property market last week may indicate that it has entered the regular “off season”. In the “off season”, when it is in urgent need of payment, the competition will naturally become more intense.

“Especially for developers who develop low- and medium-price commodity housing, if they want to “not be off-season”, materially reduce prices, or choose the most appropriate, effective, and most helpless choices when they urgently need to make payments, the The earlier the drop is, the more effective it is,” said Huang Zhijian, executive director of Uwe.

In the 21st century, Real Estate Shanghai Regional Analyst Huang Hexuan also stated that the uncertainties and seasonal factors in the market, as well as the increase in the actual payment costs after the interest rate increase, and the expected changes, slowed the pace of buyers' entry into the market, and the transaction volume decreased. The market in July and August The cooling trend is more obvious, and the quality of the listing and the price/performance ratio will become the benchmarks for the sale of the houses for sale. Last week, the central bank raised interest rates for the third time this year, further increasing the burden on buyers.

Following the first reduction in prices of green land, more and more projects have started to lower prices, and individual projects such as China Shipping, New City and Xuhui have also given larger discounts.