“金九”百城房价分化：新房结构性微涨

Core Insights - The real estate market in September showed a mixed performance, with new home prices experiencing a slight increase while second-hand home prices continued to decline [1][2][5] New Home Market - In September, the average price of new homes in 100 cities was 16,926 yuan per square meter, reflecting a month-on-month increase of 0.09% and a year-on-year increase of 2.68% [1][2] - The third quarter saw a cumulative increase of 0.47% in new home prices, although this was a slowdown compared to the previous quarter [2] - First-tier cities, such as Shanghai and Guangzhou, exhibited stronger price performance, with September new home prices rising by 0.48% month-on-month and 6.87% year-on-year [3] - The increase in new home prices is attributed to the active launch of quality projects by real estate companies in core cities [3][4] Second-Hand Home Market - The average price of second-hand homes in September was 13,381 yuan per square meter, marking a month-on-month decrease of 0.74% and a year-on-year decrease of 7.38% [5][6] - Second-hand home prices have been declining for 41 consecutive months, with a cumulative drop of 5.79% in the first three quarters of the year [5][6] - The second-hand home market is under significant pressure, particularly in second-tier cities, which experienced the largest price declines [6][7] Policy Impact - Various cities have begun implementing policies to alleviate pressure on the second-hand housing market, such as relaxing purchase restrictions and optimizing tax policies [7] - The overall market sentiment remains weak, and the stabilization of home prices is seen as crucial for restoring market confidence [7]