Hangzhou August Home Sales Up Following Lifting of Buying Restrictions

Volume picked up in Hangzhou following the lifting of buying restrictions. All restrictions were lifted at the end of August, so September should be even better considering it is also a big month for sales. Price is still in a downtrend though.

杭州8月限购松绑 楼市成交量创年内新高
By property restriction policy "relaxation" impact by the end of July, August Hangzhou (including Xiaoshan, Yuhang) New commercial housing a total turnover of 9453 units, the chain increased 53.78%, turnover hit a new high this year.

According to the latest statistics, August Hangzhou (including Xiaoshan, Yuhang) New commercial housing turnover compared with 6147 set in July 3306 set to increase, the total turnover for the five-year high earlier. Among them, the main city contract 3995 units, the chain increased 62.99%, Yuhang District 3911 units, the chain increased 60.48%.

However, significantly larger volume, while August Hangzhou property market transaction prices are still at the downstream channel. Contract price of new housing downtown 15,669 yuan / square meter, down 0.76%, of which the main city contract price of 21,374 yuan / square meter, down 3.86 percent. According to the latest data show that in August Hangzhou new residential and second-hand housing price declines were among the first samples of the top ten cities data of Beijing and Shanghai.

In addition, although the August volume to achieve higher growth, but also by higher new supply affected, Hangzhou property inventory pressure is still high. As of 31 August 24, Hangzhou (including Xiaoshan, Yuhang) can be sold 135,563 new housing units, refresh the historical high again. Among them, the new urban commercial housing can be sold listings total of 93,606 units, according to the average amount of sales of nearly six months since the calculations, clearing cycle takes 19 months.

The industry believes that the release of Hangzhou property market significantly the amount of August and relax restriction policy is closely related to some buyers that "fear up psychological" stimulus in a hurry to enter the market, and can not be fully displayed normal market demand. And because stocks and growth remains high, the risk is still accumulate Hangzhou property market, developers selling pressure is still larger, future or will continue the current price, a lower opening strategy.

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