National property prices, trading volume rebound

14:27, November 30, 2010      

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The property market seems to have sprung back to life since national regulations were first implemented. Last week both trading volume and prices rebounded.

Data provided by the China Index Academy showed that since late November, most cities' trading volume and property prices have started climbing.

In the first week of November, the market was obviously "frozen" by the regulation, and in the second week, 12 out of 35 cities witnessed increased trading volume. In the third week, 18 cities began to see a rise in trading volume, while in the fourth week trading volume witnessed a full recovery.

Among major cities, Beijing, Hangzhou and five other cities saw an increase in trading volume over the previous month. Affected by affordable housing trading, Beijing witnessed the largest growth, up by 62.4 percent, and the trading volume growth rates in Chongqing and Hangzhou were both more than 30 percent.

Transaction prices also rebounded. After entering November, property prices in Hangzhou, Sanya, Suzhou, Shenzhen, Dongguan, Haikou, Ningbo, Yinchuan and other cities have fallen by more than 10 percent.

In the fourth week, trading prices were obviously up in Shenzhen, growing by more than 12.9 percent over the previous month, and property transaction prices in Tianjin surpassed 10,000 yuan per square meter this week. Trading prices in Haikou, Kunming and Lanzhou rose fastest when compared to the previous month — rising by between 10 percent and 40 percent.

But in terms of recovery of the real estate industry, insiders hold different views.

Yu Jiaxiong at Centaline (Shenzhen) Property Agency said that the pessimism brought by the regulations is declining, and the market has started to adjust its attitude gradually.

However, the board secretary of Vanke Tan Huajie said: "the rise in trading volume is due to increased supply."

He said that the policy's effect is very obvious, and the recent fast rise in the supply contributes to improved trading volume.

By Huang Beibei, People's Daily Online


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