7月楼市成交同比跌幅扩大

1. Report Industry Investment Rating No relevant information provided. 2. Core View of the Report In July, the year-on-year decline in property market transactions widened. Both second - hand and new home transactions showed a downward trend year - on - year, with different performance in different city - tiers [1][2]. 3. Summary based on Related Contents Second - hand Housing Transactions - Overall Situation: In the week from July 25 - 31, the transaction area of second - hand housing in 15 cities was 1.96 million square meters, with a 3% week - on - week decline and a 4% year - on - year decline, and the decline has continued for eight weeks. The cumulative year - on - year decline in July was 4%, slightly higher than 3% in June [1]. - By City - Tier: - First - tier Cities: The weekly transaction area was basically flat compared with last week. Beijing increased by 9%, Shanghai decreased by 1%, and Shenzhen decreased by 15%. Year - on - year, it has declined for eight weeks, with a 6% decline this week, and the decline has expanded by 3 percentage points compared with last week [1]. - Second - tier Cities: The weekly transaction area decreased by 7% week - on - week for two consecutive weeks. Cities like Suzhou and Chengdu had declines of 14% and 16% respectively, while Hangzhou, Xiamen and Qingdao had increases. Year - on - year, the decline was 8% [2]. - Third - tier Cities: The transaction area changed from an increase to a decrease, with a slight 1% decline. Dongguan and Yangzhou had declines, while Foshan and Jiangmen had increases. Year - on - year, there was a 19% increase [2]. New Home Transactions - Overall Situation: In the week from July 25 - 31, the transaction area of new homes in 38 cities was 2.44 million square meters, with a 25% week - on - week increase and an 18% year - on - year decline, and the decline has continued for eight weeks. The cumulative year - on - year decline in July was 17%, weaker than previous months [2]. - By City - Tier: - First - tier Cities: The week - on - week change turned from a decline to an increase, with a 31% increase this week. Shanghai, Beijing and Guangzhou had increases, while Shenzhen decreased by 13%. Year - on - year, it has declined for eight weeks, with a 24% decline this week, and the decline has expanded by 2 percentage points compared with last week [3]. - Second - tier Cities: The week - on - week increase continued for two weeks, with a 23% increase. Qingdao and Suzhou had relatively large increases, while some cities like Chengdu, Nanning and Jinan had declines. Year - on - year, the decline was 12% [3]. - Third - tier Cities: There was a 22% week - on - week increase. Cities like Jiangyin, Wenzhou and Ningbo had large increases. Year - on - year, the decline was 22% [3]. Key City Observations - First - tier Cities: - Second - hand Housing: In the week from July 25 - 31, the transaction area was basically flat compared with last week, with a 6% year - on - year decline. Shanghai and Beijing had year - on - year declines, while Shenzhen had a 10% increase [24]. - New Homes: The week - on - week increase was 31%, with a 24% year - on - year decline. Shenzhen had the largest decline at 60%, and other cities also had varying degrees of decline [25]. - Hangzhou: The second - hand and new home transaction areas increased by 8% and 27% respectively compared with the previous week, equivalent to 54% and 16% of the 2024 high points [26]. - Chengdu: The second - hand and new home transaction areas decreased by 16% and 5% respectively compared with the previous week, equivalent to 53% and 35% of the 2024 high points [26]. Housing Price Observation From July 21 - 27, the weekly listing prices of second - hand housing in Shanghai, Beijing and Shenzhen decreased by 0.29%, 0.21% and 0.38% respectively week - on - week. Compared with the week before the "924" policy last year, they all decreased, with declines of 1.4%, 6.9% and 6.2% respectively [52].