China's Real Estate Markets Turn Globally

ZH: Vancouver Housing Market Implodes: Average Home Price Plunges 20% In 1 Month - "The Market Is Devastated"
While August is typically one of the slowest months for real estate transactions, MLS sales data from the first two weeks of the month shows what many have been hoping for during the last few years of escalating prices. According to realtor Brent Eilers, using MLS listing data, there were only three home sales in West Vancouver between Aug. 1 and 14 this year, compared to 52 during the same period last year. That’s a decrease of 94%.

Global News obtained MLS sales data from several key Metro Vancouver markets and found the number of homes sold during the first two weeks of August in Greater Vancouver dropped by 85% on average. Richmond experienced a 96% drop in the number of sales and Burnaby North fell by 95%. Vancouver’s West Side, West Vancouver, and Coquitlam also took major hits.

...Zolo, a Canadian real estate brokerage, keeps track of MLS home sales in real-time and reports prices as an average rather than the “benchmark price” used by the REBGV. It currently shows a major correction underway in most Metro Vancouver markets. According to the website, the City of Vancouver currently has an average home price of $1.1 million, down 20.7% over the last 28 days and down 24.5% over the last three months. The average detached home is $2.6 million, down 7% compared to three months ago.
Second-tier cities still lead the price gainers in China, but a slowing pace has already started as new policies designed to cool the market are rolling out in August.

iFeng: 买不买房都要看:7月份房价数据 有新变化!
Shanghai is not only the first half, there have been many "prime" and "to" frequent policy has been to let the wind began to tighten. This year, the Shanghai and Shenzhen restriction policy has been upgraded, Suzhou, Nanjing has issued new regulations of the land market. SASAC for the central enterprises to get to interviews and received a degree of success. July 26 Politburo meeting that "curb asset bubbles," the State Council Development Research Center of Resources and Environmental Policy Institute, Zuo-Jun, deputy director clearly stated that "mainly refers to the real estate price bubble."

Insiders said that the future price gains narrowing trend will continue, but the upward momentum of the first-tier cities and second-tier cities still exist, new regulatory or policy will be introduced.
iFeng: 房价上涨二线“十小龙”出炉 收紧政策或接踵而至
National Bureau of Statistics Department of Urban Senior Statistician Liu Jianwei said the first-tier cities due to the relatively high base last year, the recent chain or narrowed significantly. The vast majority of second and third tier cities due to the relatively low base over the same period last year, an increase of continuing to expand.

According to the president of China Academy of Urban Real Estate Xie Yifeng analysis, the current price of the heat spread from the first-tier cities to second-tier cities, investment demand for first-tier cities to second-tier cities extrusion, coupled with second-tier cities to increase housing supply, high-end products and large size products the volume is relatively large, active investment demand. Future first-tier cities may also tightening control policies, including credit, land, etc., and regulatory policies of some second-tier cities may be overweight, if the heat continues to spread to non-hot cities, these cities may also be the introduction of control policies.

It is understood that, recently, Hefei, Nanjing, Suzhou have been tightening real estate policy, rates and the price of land auction three cities have increased significantly in the first half.

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