一线城市二手房成交放缓

Report Industry Investment Rating No relevant content provided. Core View of the Report The real - estate market shows a mixed performance. Second - hand housing transactions in 15 cities have a month - on - month increase but a year - on - year slowdown, and new housing transactions in 38 cities also have a month - on - month increase with a narrowing year - on - year decline. Different city tiers and individual cities have different trends in both second - hand and new housing transactions [1][2]. Summary by Related Catalogs Second - hand Housing Transactions - Overall Situation: In the week of May 16 - 22, the transaction area of second - hand housing in 15 cities was 2.55 million square meters, with a month - on - month increase of about 4%, but the year - on - year growth rate was lower than that in March and April. The month - on - month growth rate was better than that of the same period last year and 2023 [1]. - City - tier Analysis: First - tier cities had a month - on - month decline of 1.2%, while second - and third - tier cities had month - on - month increases of 7.3% and 9.0% respectively. Year - on - year, all three tiers of cities had growth, but the growth rates were narrower than those in March and April [1][2]. - Individual City Analysis: In first - tier cities, Beijing and Shanghai had month - on - month declines of 2.3% and 2.0% respectively, while Shenzhen had a 3.8% increase. In second - tier cities, Chengdu had a large increase of 10.7%, and cities like Qingdao, Hangzhou, etc. had increases between 1% - 6% [1]. New Housing Transactions - Overall Situation: In the week of May 16 - 22, the transaction area of new housing in 38 cities was 2.84 million square meters, with a month - on - month increase of about 4%. The year - on - year decline was narrowing [2]. - City - tier Analysis: First, second, and third - tier cities all had month - on - month increases in new housing transactions, with increases of 10%, 6%, and 14% respectively. Year - on - year, first - and second - tier cities still had declines, while third - tier cities had a 12.8% growth [2]. - Individual City Analysis: In first - tier cities, Beijing, Shenzhen, and Shanghai had month - on - month increases of 23%, 19%, and 2% respectively. In second - tier cities, Chengdu and Qingdao had large increases, while Hangzhou and Jinan had declines [2]. Beijing, Shanghai, and Shenzhen Observation - Second - hand Housing: From May 16 - 22, the week - on - week transaction area of second - hand housing in Beijing, Shanghai, and Shenzhen decreased by 1%. Beijing and Shanghai both decreased by 2%, while Shenzhen increased by 4%. Year - on - week and year - on - month, all three cities had growth [16]. - New Housing: From May 16 - 22, the week - on - week transaction area of new housing in Beijing, Shanghai, and Shenzhen increased by 10%. Beijing, Shanghai, and Shenzhen had increases of 23%, 2%, and 19% respectively. The comparison with last year's high - point and year - on - week and year - on - month data showed different trends [16]. Hangzhou and Chengdu Observation - Hangzhou: The week - on - week transaction area of second - hand housing increased by 1%, and that of new housing decreased by 22% in the week of May 16 - 22, equivalent to 69% and 14% of the 2024 high - point respectively [17]. - Chengdu: The week - on - week transaction area of second - hand housing increased by 11% and that of new housing increased by 20% compared with the pre - holiday week, equivalent to 77% and 68% of the 2024 high - point respectively [17]. Housing Price Observation From May 12 - 18, the week - on - week listing prices of second - hand housing in Beijing, Shanghai, and Shenzhen decreased by 0.42%, 0.19%, and 0.51% respectively. Compared with the week before the "924" policy last year, the listing prices of second - hand housing in these three cities still decreased [40].