6月中国70城房价同比降幅整体继续收窄

Core Viewpoint - The real estate market in China is showing signs of stabilization, with a continued narrowing of price declines in both new and second-hand residential properties across various city tiers [1][2]. Group 1: Price Trends - In June, new residential property prices in first-tier cities decreased by 0.3% month-on-month, while second and third-tier cities saw declines of 0.2% and 0.3% respectively [1]. - Year-on-year, new residential property prices in first-tier cities fell by 1.4%, a reduction in the decline by 0.3 percentage points compared to the previous month. Second and third-tier cities experienced year-on-year declines of 3.0% and 4.6%, with reductions in decline of 0.5 and 0.3 percentage points respectively [1]. - Second-hand residential property prices in first-tier cities dropped by 3.0% year-on-year, with the decline expanding by 0.3 percentage points from the previous month. Second and third-tier cities saw year-on-year declines of 5.8% and 6.7%, with declines narrowing by 0.3 and 0.2 percentage points respectively [1]. Group 2: Market Insights - The real estate market in first-tier cities has been in a downward trend for two consecutive months, although high-end luxury projects in Shanghai have led to a price increase [2]. - The core areas of first-tier cities exhibit less price volatility compared to suburban areas, indicating a pattern of "core resilience and peripheral pressure" [2]. - The ongoing narrowing of price declines in second and third-tier cities suggests a long-term market recovery, with expectations for enhanced real estate policies in the second half of the year to stabilize core city markets [2].