The rise of property prices in the Mainland has slowed down
In December last year, house prices in 70 large and medium-sized cities rose 6.6% year-on-year, the smallest increase since July 2018, and rose 0.3% month-on-month.
China Index Research Institute predicts that the real estate market as a whole will continue to run smoothly in the future, but cities will continue to diverge.
Reuters calculated based on data released by the National Bureau of Statistics
In December last year, the price index of newly-built commodity housing in 70 large and medium-sized cities rose 6.6% year-on-year, 51 months in a row, but lower than the 7.1% increase in the previous month, and the increase was 2018. The smallest since July; the monthly increase of 0.3% is consistent with the previous month, and has continued to rise for 56 months.
Housing is not frying, property prices continue to diverge
In December, a total of 50 cities in the new house price index rose month-on-month, 4 remained flat and 16 fell. The first-tier cities Beijing, Shanghai, Shenzhen and Guangzhou’s new house price index rose 0.4% month-on-month, remained flat, rose 0.7%, and dropped 0.3%; year-on-year, they rose 4.8%, 2.3%, 3.6%, and 4.7%, respectively.
Kong Peng, the chief statistician of the Urban Department of the National Bureau of Statistics, said that the increase in sales prices of newly-built commercial houses in first-tier cities fell, and the increase in second-hand houses increased slightly.
The sales prices of newly-built commercial houses in second- and third-tier cities expanded slightly on a monthly basis and decreased year-on-year; the growth in second-hand houses was the same or decreased.
The Central Economic Work Conference earlier reiterated its positioning of “no housing and speculation,” and emphasized “steadiness.” It stated that it is necessary to fully implement the long-term management and regulation mechanism to implement policies based on the city, stabilize land prices, house prices, and expectations, and promote a stable and healthy real estate market. development of.
China Index Research Institute predicts that the overall real estate market will continue to run smoothly in the future, but the city will continue to diverge, and the first-tier and core second-tier cities are expected to maintain stability; some of the third-tier and fourth-tier cities with severe overdrafts in the early stage and lack of fundamental support Will face some adjustment pressure.