According to data published by the institute on july 3rd in beijing (journalist pang), the price of new houses in china's 100th city has remained high for the first half of the year, with the average monthly sales area increasing by 11 per cent over the same period。
In the first half of 2023, after a brief rebound in china's multiple real estate market, it again cooled. At a monthly real estate market situation analysis meeting held on 3 march, chen weng jing, director-general of market studies of the institute, stated that the price of new housing in the first 100 cities had risen by 0. 01 per cent in the first half of the year, largely maintaining a horizontal pattern. Of these, in june, the average cost of new housing in 100 cities fell by 0. 01 per cent, the same rate as in may。
The figure is for 17 may, overlooking the newly developed building in the new district of fuzhou, fujian province. Photo by wang dong ming, journalist of the chinese news agency
While house prices are running across, the number of new house sales has increased slightly over the same period last year. In the first half of 2023, as a result of the low base figure for the same period last year, the average monthly turnover of new commercial housing units in the focus 100 cities increased by 11 per cent compared to the same period in 2022, and the absolute value was low in the same period since 2016。
Of these, during the first quarter, the number of new commercial dwellings in 100 cities increased by nearly 20 per cent over the same period, while the second quarter remained essentially the same as the same period last year. According to preliminary statistics, in june 2023, the area of commercial housing in the 100-city focus was almost the same as in may, with a decline of more than 20 per cent in comparison to the previous year's high base. Chen weng jing indicated that the real estate market had performed weaker than expected in june and that there had been no significant tailings during the year。
According to chen weng jing, the central emphasis in the first half of the year was on the pillar of the real estate sector, with the policy tone unchanged and “risk-proof” “demand-driven” as the industry theme。
Looking back to the market, she noted that the current mood of home buyers remained affected by a number of factors, including weak income expectations of residents, stronger expectations of falling housing prices, fear by home buyers of the end-of-life situation, and whether those factors could improve and the size of the policy push had a direct impact on the housing market in the second half of the year. With neutral expectations of a steady macroeconomic recovery throughout the year, the maintenance of the current pace of real estate policy in the second half of the year, and the slow recovery of home-buying moods, the recovery of the real-estate market in the second half of the year is still at a turning point, with sales volume around the same level as in 2022. (concluded)
