房地产行业数据发布：2024年6月上海市住宅价格发布

Investment Rating - The report indicates a continued decline in the average price of residential properties in Shanghai, with a current average of 56,439 RMB per square meter, reflecting a month-on-month decrease of 1.2% and a year-on-year decrease of 13.72% [1][3]. Core Insights - The real estate market in Shanghai is experiencing downward pressure, with policies introduced to stimulate market confidence and activity. However, the actual impact on transaction volumes may take time to materialize [4][6]. - The recent policy measures, including the cancellation of mortgage rate floors and adjustments to loan ratios, aim to boost market activity, but the current demand remains insufficient to significantly increase transaction volumes [4][6]. - The overall market trend shows a prolonged decline, with buyers expecting further price drops while sellers are reluctant to lower prices, leading to extended negotiation periods [6][9]. Summary by Sections - Price Trends: As of June 2024, the average price of residential properties continues to decline across all districts, with most areas experiencing a drop of 1% to 2% [5][9]. - Transaction Volumes: In May 2024, approximately 18,600 second-hand homes were sold, with an estimated 16,000 being stock residential properties. The recent policy changes have led to a slight increase in inquiries and viewings, but actual sales remain low [4][6]. - Market Dynamics: The purchasing intent for mid to low-end properties is decreasing, particularly in suburban areas, where even price reductions have not significantly improved sales [6][9].