Finally: New Homes Sales Fall 20pc or More in 50 Cities
In the first half of April, new home sales are tumbling in as many as 50 cities according to recent data:
In April the country part of the city property market regulation effect is obvious. Yesterday, the latest report shows that April 1 – 15, 50 typical cities of new commercial housing turnover of 12.86 million square meters, down 4% mtm, down 22% yoy. An industry insider expects the second half of April will continue to decline, the monthly sales volume of 50 cities or will fall nearly 10% mtm.
Declines are happening in all tiers:
April 1 – 15, first-,second-, third-tier 50 typical cities of new commercial housing transaction area growth rate of -12%, -2% and -4% mtm respectively. Three types of cities have appeared in varying degrees of the chain fell, one of the first tier cities fell more, and the Guangzhou market began to have a great relationship between the cooling. While the second-tier cities and third-tier cities there is a clear phenomenon of market differentiation, some market transactions in the rise, some began to decline.
Price follows volume. Also, as I have mentioned, there was panic buying in late March, which will make the mtm drop appear larger in the second half of April
Yan Yue Jin that the second half of March (March 16 – March 31) sales definitely saw some panic, the volume was greater than the first half.