改善性需求不减，10月这些城市新房价格还在涨

Core Insights - The real estate market in major cities, particularly Shanghai, continues to show positive price trends, with Shanghai's new home prices increasing by over 10% year-on-year in October [1][4] - Eight out of ten major cities reported both month-on-month and year-on-year increases in new home prices for October [2] Price Trends - Shanghai's new home prices rose by 10.7% year-on-year, while other cities like Beijing, Guangzhou, and Shenzhen saw more modest increases ranging from 1% to 3% [3][4] - The average price per square meter in Shanghai reached 61,185 yuan, with a median price of 56,000 yuan [3] Sales Performance - Despite the price increases, new home transaction volumes in Shanghai decreased significantly in October, with a 24% month-on-month drop and a 35% year-on-year decline [5] - The only notable project in October was "Shangyuan" in the Minhang district, which sold 44 units at an average price of approximately 61,601 yuan per square meter [5] Market Dynamics - The market is characterized by a healthy inventory level in Shanghai, with a de-stocking cycle of 7 to 8 months [6] - Improvement in market sentiment is attributed to the performance of quality projects in cities like Shanghai, Hangzhou, and Chengdu, which are seen as benchmarks for positive development in the real estate sector [4] Regional Comparisons - Hangzhou's new home prices increased by 6.51% year-on-year, with significant sales in high-priced projects, while Chengdu's prices rose by 6.18% year-on-year [7][9] - Chengdu's new home transaction volume reached 85,000 square meters in October, maintaining stability despite a year-on-year decline in sales [9] Future Outlook - The end of the year is expected to see increased supply from real estate companies, which may support new home sales in core cities [9]