“金九银十”楼市向止跌回稳继续迈进

Core Viewpoint - The real estate market in China is showing signs of stabilization, with a narrowing decline in housing prices and improved sales performance due to supportive government policies aimed at boosting demand [1][4][6] Price Trends - In August, new residential prices in first-tier cities decreased by 0.1% month-on-month, a reduction of 0.1 percentage points compared to July, with Shanghai seeing a 0.4% increase while Beijing, Guangzhou, and Shenzhen experienced declines [2][3] - Year-on-year, the price decline for new residential properties in first, second, and third-tier cities narrowed by 0.2, 0.4, and 0.5 percentage points respectively compared to June [3] Sales Performance - For the first eight months of the year, the sales area of new residential properties decreased by 4.7% year-on-year, but this decline was 13.3 percentage points less than the same period last year [4] - The sales revenue for new residential properties fell by 7.3%, a reduction of 16.3 percentage points compared to the previous year [4] Market Sentiment and Activity - The real estate brokerage industry’s sentiment index rose by 2.8 to 47.26 in August, indicating the highest monthly increase this year, suggesting a positive shift in market confidence [3] - The upcoming "Golden September and Silver October" traditional peak season is expected to boost transaction volumes, supported by favorable policies [6] Inventory and Funding - The inventory of unsold residential properties decreased by 3.17 million square meters at the end of August compared to July, marking six consecutive months of decline [5] - Funding for real estate development decreased by 8% year-on-year, but the decline was 12.2 percentage points less than the previous year [5] Future Outlook - The market is anticipated to benefit from ongoing policy support and the upcoming peak season, with potential increases in transaction volumes [6] - Long-term prospects include accelerated progress in affordable housing initiatives and urban renewal projects, which are expected to inject new demand into the market [6]