On February 6th, the latest data from the China Index Research Institute showed that from the perspective of online signing, the average daily transaction area of new houses in 28 representative cities during the Spring Festival holiday increased by 8% compared to last year’s holiday. Among first tier cities, the online signing volume for new houses in Guangzhou increased by 47% compared to last year’s Spring Festival, while Beijing saw a slight increase of 5% compared to last year; Among the second tier cities, Chengdu has a relatively high market activity, and due to its low base, the online signing transaction volume has increased significantly compared to last year’s holiday. Cities such as Nanjing, Nanchang, and Wuhan have also seen significant growth. The Zhongzhi Research Institute believes that overall, the market remained relatively stable during this year’s Spring Festival, but the holiday market is still in the off-season. Yang Kan, Chief Analyst of the Real Estate Industry at Ping An Securities, also believes that considering the lag in Spring Festival filing and the relatively small absolute value, it is recommended to pay attention to the post holiday sales trend. With the end of the Spring Festival holiday, the sales performance in March is an important observation window. If there is a slight rebound in the real estate market in key cities, it may boost market confidence. If the real estate market weakens after the holiday, it may usher in a new period of policy support. (Securities Times)
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