数据发布|2024年8月上海市住宅价格

Investment Rating - The report indicates a downward trend in residential prices in Shanghai, with an average base price of 55,572 CNY per square meter as of August 2024, reflecting a month-on-month decline of 0.76% and a year-on-year decline of 12.8% [1] Core Insights - The second-hand housing market in Shanghai saw a total of 20,380 transactions in July 2024, which represents a 14% decrease compared to previous months, indicating a slowdown in market activity [5][6] - The average monthly transaction volume for second-hand residential properties in the first half of 2024 was around 16,000 units, with July's volume being higher than the average but lower than June's, suggesting a diminishing effect of new policies on market activity [6] - The overall market is currently in a "price-for-volume" phase, where steady price declines are helping maintain relatively high transaction volumes [6] Summary by Sections Price Trends - As of August 1, 2024, the average base price across various ring lines in Shanghai continues to show a downward trend, with declines ranging from 0.61% to 0.93% [7][8] - The outer suburban areas experienced a narrowing decline, while the inner and outer ring areas saw a slight increase in price drop [7] Market Dynamics - The report highlights that the market remains imbalanced under a weak economic environment, leading to continuous price declines [10] - Most districts are experiencing a decline in prices, with over 80% of districts showing a decrease of 0% to -1%, while the proportion of districts with declines exceeding -2% remains below 10% [11]