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At the end of 2018, China's property market continued to operate in the cooling channel. According to the latest statistics from the Bureau of Statistics, the price index of 70 large and medium-sized cities has narrowed down compared with the rise rate, and the number of second-hand houses that can better reflect the real market situation has increased to 22. In order to stabilize the property market, the situation of fine-tuning policies by local governments has begun to increase, and there are signs of marginal easing of capital.
According to Reuters data released Wednesday by the National Bureau of Statistics, the price index of newly built commercial housing in 70 large and medium-sized cities rose by 9.7% year-on-year in December 2018, rising 39 months in a row, to a 17-month high, but the increase slightly fell from 0.9% last month to 0.8% in a row for 44 months.
Chen Lei, chief analyst of Zhuge Housing Search, pointed out that the narrow rise in house prices in 70 cities in December is a sign that the market tends to be stable; at the same time, the decline in cities is not significant, which has not caused a vicious circle of insufficient market confidence, indicating that the market has been effectively controlled.
He said that the central economic working conference in 2019 emphasized once again "housing does not speculate", while changing the control strategy: according to the city policy, classified guidance, to give local governments more control autonomy and space, the future may be more meticulous regulation and control of urban markets, in order to ensure the stable development of the market.
For the new housing prices in December, the year-on-year increase is still expanding. Analysts mostly believe that this is related to the relaxation of restrictive contracting policies in some cities and the increase of high-end property market entry, which better reflects the real supply and demand of the second-hand housing market. According to Reuters estimates, the sales price index in December rose by 6.9% and 0.3% year-on-year, respectively, and the increase was flat and 0.1% lower than last month.
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