2014-04-17

Real Estate Data Reveals Sales Slump

A Chinese article claims a jump in housing inventory is the result of plunging sales.

Bureau of real estate data big secret exposed; area of ​​520 million square meters of commercial housing for sale
Real estate development before March sales data released by the National Bureau of Statistics show that in March before the end of March, housing sale area 521,630,000 square meters, an increase of 7.66 million square meters more than the end of February. Among them, the Sale area increased 4.92 million square meters.

The increase in inventory is closely related with the sales slump. Data show that in January-March, area of ​​201.11 million square meters of commercial housing sales, down 3.8%; decline expanded 3.7 percentage points higher than 1-2 months; where residential sales fell 5.7%. Commercial sales 1.3263 trillion yuan, down 5.2%, a decline of 1.5 percentage points compared to expand 1-2 months; where residential sales fell 7.7%.

"From the data, has been basically clear the market in the fourth quarter of 2013 have peaked, volume and price gains will continue to fall." Central Plains real estate market research director Zhang Dawei analysis, this time to see more than a month from the Spring Festival, the current housing prices between the game and the customer base has seen a subtle change. In the credit tightening, since under the impact of various factors such as housing supply, the supply and demand sides of the market anticipation has emerged steering, buyers wait and see mood increase, while housing prices, "none other running volume" psychological getting the upper hand, the supply and demand pattern has quietly changed.

His analysis, in 2013, there have been the property of differentiation gradually spread to a second-tier cities. Market data changes from the beginning to see, a second-line adjustment trend more obvious. Currently, Hangzhou , Nanjing, a small part of the real estate and other second-tier cities, there have been price adjustments. First-tier cities, there have been local price stagnation.

National Bureau of Statistics data also confirms this obvious "distinction." Data show that in January-March, the eastern area of ​​96.99 million square meters of commercial housing sales, down 10.0 percent, a decline of 4 percentage points higher than the expansion in January-February; sales of 798.1 billion yuan, down 11.5%. Central china area of ​​53.23 million square meters of commercial housing sales, an increase of 6.8%; in the West region area of ​​50.89 million square meters of commercial housing sales dropped 1.0%. Thus, in the first- and second-tier cities of the East, the decline in momentum is more pronounced.

Statistics show that in the first quarter of this year, the Guangzhou city's total net signed 16,194 primary residential units, fell 40 percent year on year, the total turnover of the area of ​​1.846 million square meters, a 42.5 percent drop.

Dawei analysis, the future will be more and more cities are facing price adjustment pressures. In the second quarter, including the possibility of a further cut in Hangzhou and other cities have, and other cities with the increase in supply, demand the sidelines, the market will once again cool.

Sluggish sales market also affected the acquisition of real estate and land development companies. Data show that in March before new housing construction area of ​​290.9 million square meters, down 25.2%, of which residential new construction area of ​​212.38 million square meters, down 27.2%. Area of ​​185.2 million square meters of houses completed, a decrease of 4.9%, which was completed residential area of ​​139.1 million square meters, down 7.3%.

Centaline research statistics: As of April 15, the nation's major urban land transactions in the continued slowdown appeared after the Spring Festival. Tier cities March monthly turnover of land amounting to 33.21 billion, in April the first half turnover of only 24 billion. Were lower than the prior year. Land volume in April and second tier cities also fell significantly in the first half, only the first half of April to sell 27.8 billion, much lower than before.

According to Centaline, March, ten benchmark housing prices in the country's 40 major cities to purchase only the amount of 6.293 billion yuan, nearly 19-month low. This is mainly due to the supply of land is low in March, the Spring Festival this year, coupled with a strong atmosphere watching the property market, housing prices in a sales situation is not under good circumstances, to purchase land who are more cautious

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