How much fell in the transaction?
The volume of transactions and property prices have always affected each other. The decrease in second-hand trading volume also means that buyers are less likely to pursue price changes. However, if the volume of transactions falls to that level, will the owners increase the bargaining space and reduce the price of shipments, so that the second-hand property prices will soften?
Trading continued for 3 consecutive months, the owner reduced the price
Looking up the record, the last property price adjustment began in the fourth quarter of 2018, and it took 3 months of low volume before the adjustment. In August, September and October last year, 10 major housing transactions were completed. The volume was 94, 48 and 67, which fell below 100 levels for three consecutive months. The transaction slowed down, coupled with local negative interest rates following the US interest rate hike, as well as Sino-US trade wars, the owners began to be willing to cut prices, the second-hand property price index CCL from the historical high of 188.64 points, down to the February low of 169.95 points A 10% adjustment occurred in about half a year.
Looking at the volume of transactions in 2015, the volume of transactions in October, November and December of the year was 83, 82 and 102 respectively. There were less than 100 cases in two months, and the local and mainland stock markets were volatile now. The CCL index fell from 146.92 points in September to 127.46 points in the following year, with an average of 13%.
Although the volume of transactions in May was about 134, the lowest this year, however, the volume has not fallen below 100 key levels, and it still supports second-hand property prices. It is expected to continue to run after breaking through the high level. However, when there are fewer and fewer discretionary sources in the market, high property prices are difficult for buyers to bear. It is expected that the volume will not be too prominent in June. If the number of transactions in the 10 major housing estates falls below 100 levels for two to three months in a row, it is a harbinger of a fall in the high price of the property.