Second-hand strong driving the property market

Halfway through 2018, the property market in the past six months has been summarized. According to the Land Registry, the total number of property registrations in the first half of the year totaled 46,875, an increase of 9.4% over the same period last year, a three-and-a-half-year high; the amount reached approximately 403.68 billion yuan, up 8.2% year-on-year, except for 1997. The 21-year high since the first half of the year is the second highest level in 27 years and a half since the record in 1991.

In the first half of this year, the overall property registration amount reached a new high, of which second-hand housing was the main driver. In the first half of this year, the number of second-hand residential registrations was about 27,125, up 15.5% from 23,491 in the same period last year. During the period, the amount of second-hand housing reached approximately 211.67 billion yuan, a 7-and-a-half-year high. This second-hand “salvation" situation has been quite rare since the launch of Spicy, fully reflecting the flow of purchasing power to second-hand use in the first half of the year.

The second-hand rally is fierce. Which type of housing estate is the most popular? The answer is inspired by the distribution of transactions in second-hand housing estates. In the first half of the year, the number of transactions in Whampoa Garden was the strongest, with a year-on-year increase of 68.9%, which was the highest in the public housing estates. The South Horizons rose by 52.4% year-on-year. In the vicinity of the Whampoa Garden, the new port city, the new port city is also increased by 42.3%; the first city of Sha Tin, the Mei Foo New Village, the Discovery Bay and the Amoy Gardens recorded a rise of 20% to about 27.6%; The ancient city and the Jiahu Villa also rose by 17.5% to 19.5%. The above-mentioned 11 estates have outperformed the overall second-hand residential market.

As regards the new trading, according to the information, the number of registered private buildings in the first half of this year was 7727, with a record of $112.27 billion, which was about 21.3% and about 16.7% lower than the same period last year. This was mainly due to the decrease in the amount of pushes, and the decrease in the amount of pushes was due to the impact of the pre-sale of uncompleted flats. The author estimates that the flow of exchange-based chain has started, except that the impact of interest rate hikes or trade wars is far greater than expected, otherwise second-hand trading will continue to be active in the second half of the year, and the city will continue to increase its vital momentum.