Last month, the new market price of 70 cities rose by 1% in February.
In the mainland, the house price index continued to climb in June. The prices of 70 large and medium-sized cities rose by 1% month-on-month to nearly two-year highs. The prices of first-tier cities were flat year-on-year, and the growth rate of second-tier cities expanded to 6.3%.
The analysis pointed out that with the new round of real estate regulation and control, and the vacant resettlement support for the third- and fourth-tier property market weakened, the price increase in the second half of the year may not be sustainable.
According to data released by the National Bureau of Statistics last month, Reuters reported that the price of new commercial housing in 70 large and medium-sized cities rose by 1% in June, rising 39 months, the highest since October 2016, which is a 20-month high; It rose by 5% year-on-year, and rose for 33 months. The increase was further expanded from last month.
Beijing and Shanghai prices remain flat Guangzhou and Shenzhen up
“The sales prices of commodity housing in first-tier cities are generally stable, second-tier cities have risen, and the upward momentum of third-tier cities has been suppressed," Liu Jianwei, senior statistician of the Urban Statistics Department of the National Bureau of Statistics, explained.
According to preliminary estimates, from the year-on-year perspective, among the 70 large and medium-sized cities, the sales prices of new commercial residential buildings in the four first-tier cities were flat, and the sales price of second-hand residential houses changed from last month to 0.1%. On a monthly basis, the sales price of new commercial residential buildings in first-tier cities rose by 0.6%, an increase of 0.3 percentage points over the previous month. The prices in Beijing and Shanghai were flat, and the prices in Guangzhou and Shenzhen rose by 1.9% and 0.3% respectively.
In June, the sales prices of new and second-hand residential properties in the second-tier cities increased by 6.3% and 4.6% respectively year-on-year. The growth rate was 0.9 and 0.2 percentage points higher than that of the previous month; the monthly increase was 1.2% and 0.7% respectively. It rose by 0.9% and 0.8%.
As for the sales prices of new commercial residential and second-hand residential in 35 third-tier cities, they also rose by 6.0% and 4.3% respectively year-on-year, up 0.7% and 0.6% respectively month-on-month, the same as last month.
Speculative arbitrage boom
“In June, the commercial housing market was active, and second-tier housing prices led the gains." Xia Dan, a senior researcher at the Bank of Communications Financial Research Center, said that the objective condition of the “recovery" in the second-tier market was that the development of the pre-sale permit accelerated the development of the company. The “warming up" is related to the disguised pull of talent introduction and the arbitrage speculation boom in the property market.
She pointed out that at the end of June, the seven departments jointly introduced the real estate market rectification method. All the selected 30 cities were hot cities with rapid housing price increase or potential pressure. They were aimed at cracking down on speculative real estate speculation while strictly controlling the transaction chaos. The “rushing house" boom is expected to fall back.