法拍房月报｜10月成交规模维系年内高位，成交率如期回升至20%以上（2025年10月）

Core Viewpoint - The auctioned properties in October showed a significant decrease in supply, with 66% of properties sold at a premium, marking a new low for the year [3][19][31]. Supply and Auction Volume - The number of properties listed for auction decreased significantly, with 29,000 new listings, a 31% decrease month-on-month and a 13% decrease year-on-year, marking the lowest level since the second half of the year [3][12]. - The total starting price for these listings was 27.1 billion, down 33% from the previous month [12]. - In terms of city performance, Chongqing led with 1,430 listings, while major cities like Guangzhou and Shenzhen had 360 and 215 listings respectively [15]. Transaction Volume - The transaction volume remained high, with 5,169 properties sold, a 3% increase month-on-month and an 8% increase year-on-year, continuing a trend of over 5,000 transactions for three consecutive months [3][18]. - The total transaction value reached 5.9 billion, reflecting a 4% increase from the previous month [18]. Transaction Rate - The national average transaction rate was 21%, showing a recovery trend [6][25]. - Cities like Shenzhen had a transaction rate of 45%, significantly higher than the national average, while Suzhou saw a drastic drop to 4% due to a high number of unsold properties [30]. Premium and Discount Rates - The average premium rate for auctioned properties was 9.7%, with only 10% of properties sold above their appraised value, indicating a trend towards lower premiums [3][31]. - The average discount rate for sold properties was 32.7%, with a notable increase in the willingness of sellers to lower prices [35]. Market Outlook - The market is witnessing an increase in the number of normal transactions through auction channels, with approximately 9.4% of sold properties being regular assets, which had a median premium rate of 28 times [8]. - High-value properties are entering the auction market, with notable examples including a villa sold for 3.6 billion and a club sold for 1.12 billion, both achieving significant premiums [9][24]. - The current real estate inventory is at a critical level, necessitating the use of auction properties as a key method for risk management and inventory reduction [10].