Today, the National Bureau of Statistics released the changes in the sales prices of commercial housing in 70 large and medium-sized cities across the country in March 2024.
According to the released data, there has been a significant change in housing prices in Fuzhou. At the same time that the price of new houses ushered in the "ten consecutive declines", the prices of second-hand houses changed the downward trend, ending the previous "ten consecutive declines" and rising.
New home prices have fallen for ten consecutive years, and sales have soared
In March, the sales price index of newly built commercial residential buildings in Fuzhou fell by 0.2% month-on-month, continuing the decline in previous months, and fell by 4% year-on-year.
Although the price of new homes is still falling, the decline in March showed a "stop" trend compared with the 0.7% month-on-month decline in the sales price index of newly built commercial residential buildings in Fuzhou in February.
In terms of area, in February 2024, the sales price index of newly built commercial residential buildings of 90 square meters and below in Fuzhou fell by 0.1% month-on-month and 4.1% year-on-year;
The sales price index of 90~144㎡ newly built commercial residential buildings fell by 0.1% month-on-month and 4.3% year-on-year;
The sales price index of newly built commercial residential buildings above 144 square meters decreased by 0.3% month-on-month and 3.1% year-on-year.
Data map
The reporter learned from the industry that, on the one hand, the price decline in Fuzhou's new housing market in March was controlled, and on the other hand, the sales of Fuzhou's new housing market in March also far exceeded expectations.
In March, the number of residential units contracted in the five urban areas of Fuzhou was 2,211, an increase of 1,847 units from February. After a lapse of 11 months, the contracted area exceeded 200,000 square meters again, an increase of more than four times from February and a new high in the past 11 months.
Industry insiders said that this shows that the price adjustment of the new housing market has shown a "bottoming" trend, and the adjustment is close to being in place. Coupled with the favorable conditions such as the reduction of mortgage interest rates, sales volume began to pick up.
Second-hand home prices
After a series of declines, it ushered in a rise
In terms of second-hand housing, the newly released data exceeded many people's expectations.
In March, the sales price index of second-hand residential properties in Fuzhou rose 0.1% month-on-month and fell 6.9% year-on-year. This change ended the previous 10-month decline in the second-hand residential sales price index in Fuzhou.
It is worth mentioning that the second-hand residential sales price index in Fuzhou in March was the only one in the second-hand residential sales price index of 70 large and medium-sized cities to rise.
According to the data, in the Fuzhou market, the average price of second-hand houses is 24,444 yuan / square meter, up 0.7% month-on-month, ranking 12th in the country.
Data map
The reporter learned from a number of real estate agencies in Fuzhou that since the beginning of this year, the sales of second-hand houses in Fuzhou have continued to pick up. This is mainly due to the fact that the price adjustment is in place, plus the demand is indeed there all the time. In particular, school district housing has become the main force of recent transactions.
In view of the market outlook, industry insiders said that according to the results of market research, the potential housing demand and replacement demand of Fuzhou citizens are gradually released, considering that real estate prices are still bottoming out, coupled with friendly credit policies, these needs will continue to be released steadily.
Source: Fuzhou Evening News
Editor: Huang Ziling, Li Wenjun
Proofreader: Ning Yuanyuan, Hong Tingting
Review: Chen Yan Pan Jie
Producer: Xie Yongjie, Ni Xinxin
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