On the morning of 16 january, the national institute of statistics published the evolution of commodity house marketing prices in 70 large and medium cities in december 2022, showing that the price of new commodity residential sales in december 2022 had increased by 4 to 55 cities compared to november, while the price of second-hand dwellings had decreased by 63 cities, up from 1 in november。
According to a reading by the chief statistician of the urban division of the national statistical office, in december 2022, the prices of commercial residential sales in 70 large and medium-sized cities declined by an increase in the number of cities, the prices of commercial residential sales in all lines of urban residential sales were flat or lower, while the same rates were higher in first-line cities and lower in second- and third-line cities。
“in terms of the housing price data published by the bureau of statistics in december of last year, the decline in the real estate sector in 2022 lasted a full year and the increase in the number of cities with lower housing prices is an important indicator.” on the morning of 16 january, zhang bo, director of the house of tenants, in a written interview with a journalist for daily economic news, stated that, overall, while the number of cities with declining housing prices had increased in december, the market had become increasingly clear at the bottom of the day, and it was expected that the stability of housing prices and the significant increase in the number of cities would have to wait until the second quarter of the year。
We're building a building near the north-west ring. Figure
New house prices will increase in cities
In december, the price ratio of new residential construction fell to 55 cities, compared to 54 cities in the same year。
While the top 15 cities, such as chengdu, shanghai, no sing, hangzhou and beijing, and the top two cities, where the price of new houses increased, are still the majority, it is worth noting that the highest growth rate was only 0. 7 per cent in these cities and 0. 1 per cent in the cities of nanchuan, sichuan and xian。
In december of last year, the price of new residential housing in the first line of cities was reduced from 0. 2 per cent last month to even; the price of the second line of cities fell by 0. 3 per cent, an increase of 0. 1 percentage points from the previous month; and the third line of cities fell by 0. 3 per cent, the same as last month。
By comparison, in december 2022, the prices of new urban housing rose by 2. 5 per cent over the same period, the same as in november 2022; the prices of new urban housing in second-line cities decreased by 1. 1 per cent over the same period; and the prices of new urban housing in third-line cities decreased by 3. 9 per cent over the same period, the same as in november 2022。
“the market slowdown in front-line cities has continued, as can be seen clearly from the flat increase in the price of new houses in december last year and the overall decline in second-hand house prices. The increase in the price of new houses in beijing and shanghai does not represent a return to market heat, and a change in the structure of transactions at a larger level is directly due to an increase in the trade-off ratio of medium- and high-end housing sources.” zhangbo analysis suggests。
The price of second-hand rooms in 6 cities has risen on a par
In december 2022, the average increase in second-hand residential prices in 70 cities was only six in chengdu, beijing, shanghai, kunming, nanching and tin-free cities, and only seven in ring-up, with the highest increase in kunming being only 3 per cent。
“the price index for second-hand houses and first-hand rooms is similar, i. E. The downward trend has been somewhat contained. However, for example, in cities with a high population size, the market for second-hand houses is relatively healthy. It is clear, however, that the number of such cities is still small.” the director general of research at the shanghai institute for eviction of real estate made a dramatic leap to report to journalists via twitter on the morning of 16 january。
It is worth noting that in december 2022, second-hand residential prices fell by 11. 6 per cent, the largest decrease in the same year, and by nearly 10 per cent in harbin. At the same time, secondary residential price declines in cities in the north-eastern regions of the jintang, shenyang and changchun are ahead of 70 cities。
“in terms of the increase in secondary house prices, ningbo, chengdu, kunming and changsha saw a slight rise, but in terms of real trade, there was no synchronized increase, which also shows that the rise in house prices itself is still insufficient and the market is still in the bottom phase.”。
In the case of municipalities at all levels of power, the price of second-hand residential sales in the first-line cities fell by 0. 5 per cent in december 2022, an increase of 0. 1 percentage points over november 2022, an increase of 0. 6 per cent over the same period and a decline of 0. 6 percentage points over november 2022. Second-hand residential sales prices in secondary cities decreased by 0. 4 per cent and 3. 2 per cent, the same as in november 2022. Second-hand residential sales prices in third-line cities decreased by 0. 4 per cent, or 4. 8 per cent over the same period。
With regard to the development of the real estate market in 2023, zhangbo argued that “this year is a good year for improving demand entry into the market, and it was clearly mentioned in the strategic plan outline for the expansion of domestic demand issued by the central committee of the communist party and the state council last december that housing improvement will be the focus of future domestic demand. A relatively faster rate of urban recovery is expected in the first- and second-line hotspot cities, and more tools are currently not being used in the policy toolbox in the first- and second-line hotspot cities, especially in terms of the large scope for adjustments in down payment and interest rates to improve demand. Together with the overall optimization of interest rates on mortgages, the overall recovery in future markets remains very promising.”
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