First Tier Housing Market Sees Small Confidence Rebound

Existing home sales are picking up in first tier cities Shanghai and Beijing, and that is helping to stabilize prices. The article below interviews one seller in Beijing who wants to trade up to a nicer home. She is selling one home in Shangdi and another in Tongzhou, but she is unwilling to drop the price to get a sale done, thinking she can find a buyer within one or two weeks. Analysts aren't so optimistic though, seeing the recent rebound in sales as very limited.

From iFeng:
一线城市房主咬牙扛价绝不降价 二三线平价卖房无人问

"Some time ago, hanging out cost, low (mean area lowest) and no one asked. Probably start from September, calling the inquiry more people, people who view room more." Li Ying ( pseudonym) told the 21st Century Business Herald reporter, her house to hang out more than six months, has not sold.

21st Century Business Herald reporter learned from a number of intermediaries, although since September, volume is still in the doldrums, but the new source volume has started to increase. Part of the rigid demand and improving market demand intention strengthened.

Chain of home real estate data show that in September the first week of the new room source ratio was 6.06, rising 0.85 last week. It is worth noting that, two days before the Mid-Autumn Festival holiday, the average daily maximum amount of additional tourists since March of this year, higher than any of the previous week's average.

Changes in market micro-

Wu Min (a pseudonym) is also selling. She wanted to be a district in Beijing for sets on bigger house. Her concern a second-hand housing from the highest point eight million in 2013 now down to 7,000,000. It made ​​her quite tempted.

Wu recently she is currently on the ground and two Members Tongzhou [ latest news Price Unit Comments estate] are listed. On the ground that house for more than a group of customers of view. "If I drop 100,000, it is estimated that two days will be able to sell, but I do not want to drop." Wu convinced, though not the price, within twelve weeks can be sold.

Wu found that the customer base to see her house and just need to improve.

According to the chain of home real estate market research statistics, the first week of September a total turnover of 1775 Beijing second-hand housing units, 26.9 percent decrease compared with last week, but the first week of August, compared with an increase of 2.8%. According to real estate Catcher monitoring data show that small Mid-Autumn holiday Beijing signed 482 new homes net sets, second-hand housing net signed 85 sets, and this year's Dragon Boat Festival, May Day, Qingming three holidays compared to a slight increase in volume.

Chain of home real estate market research, said Zhang Xu, under normal circumstances, the beginning of the end of the monthly turnover volume will be lower than the previous month, this week coincides with the Mid-Autumn Festival holiday, some buyers do not have time showings, trading volume will be some impact.

It is worth noting that tourists from new housing situation, last week, the average daily amount of additional tourists increased 8.1% MoM, the new mom tourists have increased to some extent. September first week of the new room source ratio was 6.06, rising 0.85 last week. Zhang Xu said the listing price data from the second-hand housing, the owners carry the price will gradually increase in the short term, Beijing second-hand housing is hard to appear significantly wider range of price behavior.

Price change

Shanghai's Zhang Li (pseudonym) is also "small change big." Zhang Li in Shanghai real estate in Central, excellent location. She listed, there are many customers to inquire. Zhang Li believes that now is a good point to improve buyers. She found a number of projects including the Shanghai suburb of the new disc, both in discounts.

"Mid-Autumn Festival saw the sea [ ​​Introduction News ] a sale, the sales lady said 40,000 yuan / square meter, but yesterday informed us that the final price is 36,000 yuan / square meter. "Zhang Li September 10 told on the phone 21st Century Business Herald reporter.

Centaline Property Research Department statistics show that: in August, Beijing second-hand housing turnover reached 8434 units, up 4.65 percent, which is the highest point in five recent months.

Centaline analyst Zhang Dawei analysts believe that this year Beijing second-hand housing prices fell more than expected. The current market in the sale of second-hand housing availability average, compared to the beginning of the highest points, down more than 15 percent, some houses even more than 20%. In this case, some buyers began to consider the market. Beginning in July reduced the magnitude of the slowdown in housing prices, the volume gradually bottoming. From Beijing second-hand housing transaction price, the June average turnover of 2.92 million in July to 28,900 yuan, 28,800 yuan in August, although the continued downturn in the market as part of the demand, lowered the significant slowdown.

A second-hand housing agent told 21st Century Business Herald reporter, "There is a buyer's market if you want to sell as soon as possible, one million houses need to price 100 000, 2 million need drop 100,000 -15 million and 3 million houses need to drop 15 -20 million. "

From the current market situation, a second-tier cities and suburbs tier cities are more difficult to sell second-hand housing is relatively large. Wu found that her house is located in Tongzhou not so easy to sell. The purchase in 2013 of second-hand housing market highs, and now she wanted to sell the original price, almost nobody cares. "Tongzhou hand housing supply is too big, do not sell."

Zhao Changzhou Wujin owners since February hang out second-hand housing also unsold. "This suite was bought in early 2010, now count some of the original tax is almost sold, but still did not sell." Zhao said he did not want to lose too much, but the price drop also will buy less.

Rates difficult to rebound

Although the volume has gone up, but the industry generally believe that prices will not rebound.

Dawei believes that the current rise in turnover There are many factors. Credit is the key reason for the relaxation of accelerated volume increases; prices appear factual adjustments, homeowners will of Sale listings deal of difficulty is very small; buyers all over the psychological impact of deregulation on the Beijing-control policies is growing.

Century 21 Real Estate Regional General Manager Beijing Kouhai Long analysis, the first week of September, Beijing second-hand housing failed to undertake the upward trend by the end of August, the net signed volume fell again, but transaction prices remained stable.

Although the property market from the time has entered the "Golden September", some buyers wait and see attitude has indeed weakened gradually tentatively into the market, but by the small Mid-Autumn holiday in late August by the repression of continuous growth momentum. This is normal fluctuations. September is expected to have a large batch of new home market, and generally low prices, which will further suppress the second-hand housing transaction price, snatch portion of second-hand housing customers. However, market sentiment has significantly improved compared to the first half, buyers have abandoned basic prices fell sharply fantasy, repressed demand is gradually few months the market.

I love my family Hu Jinghui, vice president believes that entering in September, 2014, the Beijing property market turnover window period has come, the recovery momentum in housing turnover will continue. Meanwhile, under the combined effect from the housing and the second-hand housing price downturn, overall prices showing a slight decline, periodic dip trend.

Hu Jinghui said, compared with a strong sentiment in the first half, ending the sidelines recently been part of the consumer market buyers, property market turnover is slowly recovering from the bottom to draw rising curve. Although September has affected the property market more holiday factor, " Golden September and Silver October, "Compared to previous years, it is also possible fineness greatly reduced, but the volume further bottomed out in May and June, rising to a higher level this year will be expected .

Dawei that a slight rise in the next volume, is unlikely to bring significant price rebound. In the case of a single month of second-hand housing turnover less than million units, the Beijing property market is still in an adjustment period. But with the restoration of market confidence, housing prices down even more space narrowing.

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