When property prices rise more than double the income increase…

The official data recently showed that the median price of private property has risen by 40% in the past five years and exceeded the level of 5 million yuan, which is far higher than the increase in household income. If the situation continues, it will only be more difficult to get on board.

The soaring property prices in the past few years are well known to everyone. However, the property price index of the agency agency or the Government’s Estimated Services Department is just a cold figure. It is not as accurate as the actual property price. Got it. Earlier, we talked about the average transaction price of second-hand houses by agency agencies. However, the calculation of the average value is also easily pushed up by large-scale super-hotels. How do you compare the median price of property prices?

Just in response to the questions raised by the Legislative Council Members, the Transport Department disclosed the distribution of private property prices collected by the Estimated Assessment Department from 2013 to 2017. Details can be found in Table 1. The median value of the most valuable private property prices is 2017. The figure for 2017 is 5.3 million yuan. This silver code is equivalent to the cost of the two houses in the first city of Sha Tin. Room, the practical area of ​​304 square feet, 2 rooms and 1 hall interval, but also 5.4 million yuan changed hands, the actual area of ​​the price of 17,763 yuan.

The family has enough time for the first period of storage

In terms of the median price of property, the 5.3 million yuan in 2017 compared with 3.769 million yuan in 2013, a cumulative increase of 40.6% over the five years.

Tang Rong’s household income in the private sector during the same period was compared. The median monthly household income in the fourth quarter of 2017 was 45,000 yuan, which was an increase of 23.9% compared to 36,300 yuan in the fourth quarter of 2013. It was almost only property prices. Half of the increase.

In terms of affordability and income-to-value ratio, it takes about 117 months, or 9.75 years, for households with a median monthly income in private housing to be able to afford a private property of 5.3 million yuan, compared with similar data in 2013. At that time, only 103 months or 8.65 years were required for middle-income private-family homes to purchase a private building with a median house price. In five years, the latest data for 2017 was extended by about one year.

As for the calculation of the first period, the median price of property in 2013 was 3.697 million yuan, with the highest mortgage rate of 90%. The first period was 3.769 million yuan. Assuming a savings rate of 50%, the median income at that time was used. For a family (36,300 yuan), it will take about 20.7 months or nearly 2 years to be able to have enough first period. In 2017, the median price of property is 5.3 million yuan, and the maximum is 80% mortgage, which is equivalent to 106 The first phase of ten thousand yuan, with a monthly median monthly household income (45,000 yuan), will be sufficient for the first phase of the deposit to be approximately 47 months, nearly 4 years, and fully doubled.

All of the above data and conditions actually prove the difficulties faced by ordinary middle-income or low- and middle-income families facing home purchase. If the Government does not face up to the problem and increases the supply of HOS, first home placement, etc., when the problem of getting on the train continues to deteriorate, it will only make the people’s grievances deepen.