Beijing Existing Housing Market Cools, Tongzhou Down 13pc from April
Average transaction prices at real estate brokers are down 9 percent in Haidian, 11 percent in Xicheng, 13 percent in Tongzhou. These data points always tend to be more volatile than the NBS 70 city survey, but the 70 city survey for July should come in much weaker.
According to the Beijing Municipal Housing Construction Committee website data show that in July this year, the city’s second-hand housing in Beijing signed a total of 7158 sets of residential. The figure fell 19.7 percent from June, down 68 percent from last July. Throughout the data is not difficult to find, since the “3.17” after the introduction of the New Deal, this is already Beijing second – hand housing network for four consecutive months down.
Volume decline has changed the market supply and demand and market expectations, the impact is directly reflected in the average transaction price. Chain home research institute data show that since the implementation of the New Deal from April to July in four months, the Beijing administrative region of the chain stores the average price of housing prices have declined in varying degrees. Among them, compared to April, July Tongzhou District second – hand housing transaction price to 12.68% decline in the first place. In addition, Xicheng, Haidian, Daxing, respectively, 11.45%, 9.01%, 8.92% decline in the subsequent.