2024年8月房地产行业运行情况报告：二手房价格下行压力加大 楼市延续筑底态势
Dong Fang Jin Cheng·2024-09-22 07:30

Investment Rating - The report indicates a continued downward pressure on second-hand housing prices, suggesting a cautious investment outlook for the real estate sector in the near term [1] Core Insights - In August, second-hand residential prices accelerated their decline, with varying degrees of month-on-month decreases across different city tiers. Notably, Beijing and Shanghai experienced significant price drops [2][3] - New residential prices also saw a month-on-month decline, although the decrease in first-tier cities was slightly less pronounced [5] - Sales performance showed a slight improvement in the month-on-month and cumulative sales area declines, but absolute levels remain low, indicating that the sales sector is still in a bottoming phase [7] - Investment performance remained weak, with no significant improvement observed in August. The decline in real estate development funding sources narrowed, but the absolute levels remained low [9][10] Summary by Sections Price and Sales Performance - In August, second-hand residential prices in 70 cities fell by 0.95% month-on-month, with only one city showing an increase. First-tier cities saw a month-on-month decline of 0.9%, marking 11 consecutive months of decline [3] - New commodity housing prices in 70 cities decreased by 0.73% month-on-month, with first-tier cities experiencing a smaller decline of 0.3% [5] - Sales area and sales revenue for August were 64.53 million square meters and 639.26 billion yuan, respectively, with year-on-year declines of 12.6% and 17.2% [7] Investment Performance - The decline in real estate development funding sources narrowed in August, with a total of 80.32 billion yuan, but the year-on-year decline was still significant at 10.57% [12] - New construction and construction data showed a month-on-month improvement, while the area of completed projects saw a larger decline [14] - The land market showed a month-on-month increase in transaction area, with third-tier cities leading the market [16][17]