Before 2019, the road was rugged and the market conditions were ups and downs
We really need a calm mind to accept the unchangeable trend, bravely change and even understand the difficulties. The most need is to have the wisdom to analyze, the market conditions have changed, but the market purchasing power is still there, and the public’s demand for housing has not changed. The above is the author’s estimate at the beginning of the year. The result is unfortunately said that it is only affected by a series of social activities, which makes the local economic environment more serious than imagined.
Looking back at the market conditions of 2018 last year, it can basically be said that it will rise first and then fall back. I can’t think of entering 2019, and the market trend has turned into a replica of last year.
In the first half of this year, regardless of the stock market and the property market, they successfully reversed the decline in the second half of last year
The Hang Seng Index once regained its 30,000-point level. Property prices also rose for five months and rose above the historical high of last year. Disputes, as well as the social activities triggered by the turmoil of the amendments, the market conditions in recent months have turned sharply.
Under the influence of two major external factors, the buyer’s mentality has naturally become a wait-and-see attitude. The overall second-hand trading has also fallen for four consecutive months. The second-hand registration volume has fallen below 3,000 levels last month. I believe that the registration volume this month will be Will fall further. At the same time that second-hand trading has decreased, property prices have once again peaked. According to the figures of the Government Rating and Valuation Department, the overall property price index has started to fall in June this year and has fallen for two months, although the cumulative decline is only 0.7%, but since the figures are often relatively backward, in fact, the decline in individual regions has reached 5% to 8%.
This year’s residential registration is stable
Sino-US trade disputes have not been resolved, social tensions have not eased, and second-hand trading has remained quiet. So far, the total number of second-hand registrations has dropped to only about 30,000 cases so far this year, a significant drop of about 15% compared with the same period of last year. If the market conditions deteriorate further, the number of second-hand registrations this year will indeed fall below 40,000. It will become the quietest year for used second-hand trading. However, Members should also note that second-hand trading has been reduced. Only some of the customers have been transferred from second-hand to first-hand.
According to the record of the first-hand residential property sales information network, the first-hand sales in the first eight months of this year were close to 1.43 million, a significant increase of 37% over the same period last year. In addition, the new first-hand market was also calculated. For six consecutive months, the monthly sales volume exceeded 1,000, and with the recent deployment of several new discs, it is believed that the new market will continue to be lively. In other words, overall, the overall registration of residential properties this year is still stable with last year.
There is a saying in the saying: “It is going to rain, and the mother is going to marry." Although the social atmosphere is relatively tight and the economic environment is relatively severe, there are still many people who are married and still have children in life. The housing needs of the citizens still need to be resolved. As the low interest rate environment continues and the overall rents continue to rise, many buyers will still choose to enter the market to buy flats. As a result, overall residential sales have remained stable.