With the arrival of the traditional peak season of "Golden September and Silver Ten", coupled with the intensive implementation of new policies in the property market, transactions in the property market were active in September and prices stabilized.In particular, the sales price of second-hand houses in first-tier cities has increased month-on-month for seven consecutive months, and housing price expectations have improved significantly.

Data released by the National Bureau of Statistics on October 19 showed that among 70 large and medium-sized cities in September, the sales price of commercial housing in first-tier cities continued to rise month-on-month, while the month-on-month decline in second- and third-tier cities generally narrowed.

Yan Yuejin, deputy director of Shanghai Yiju Real Estate Research Institute, told a reporter from the Shanghai Securities News that since September, the month-on-month and year-on-year indicators of housing prices in 70 cities have improved significantly, reflecting the improvement in market performance during the "Golden Nine and Silver Ten" stages and the significant improvement in housing price expectations.

First- and second-tier cities are leading this round of housing price recovery.Specifically, the sales price of newly built commercial housing in first-tier cities increased by 0.1% month-on-month in September, the same increase as last month.Since March this year, this indicator has stopped falling for 7 consecutive months. Except for being flat in July, the indicator has remained rising in the remaining months.Among them, Shanghai, Guangzhou and Shenzhen increased by 0.2%, 0.2% and 0.3% month-on-month respectively in September, while Beijing fell by 0.2%.The sales price of newly built commercial residential buildings in second-tier cities remained unchanged from a month-on-month decrease of 0.1%.The sales price of newly built commercial housing in third-tier cities fell by 0.2% month-on-month, the same rate of decline as last month.

From the perspective of the second-hand housing market, the sales price of second-hand housing in first-tier cities increased by 0.2% month-on-month in September, an increase of 0.1 percentage points from the previous month.The indicator has risen for seven consecutive months since March this year.Among them, Beijing, Shanghai, Guangzhou and Shenzhen increased by 0.1%, 0.5%, 0.1% and 0.2% month-on-month respectively in September.

It is worth noting that in September, the prices of both new and second-hand houses in Shanghai increased year-on-year. The sales price of newly-built commercial housing increased by 2.8% year-on-year, and the sales price of second-hand housing increased by 0.8% year-on-year.

In Yan Yuejin’s view, the positive month-on-month growth in second-hand housing prices in first-tier cities for seven consecutive months has a positive effect in guiding housing price expectations to improve.Shanghai became the first city in the country to see a year-on-year increase in second-hand housing prices. It also reversed the previous passive state of "continuous decline" in second-hand housing prices. The signal is very meaningful.

The National Bureau of Statistics also released a series of real estate-related indicator data that day.Among them: in the first three quarters of this year, investment in real estate development fell by 20.6%; the sales area of ​​newly built commercial housing nationwide was 564.83 million square meters, a year-on-year decrease of 13.2%; the sales volume of newly built commercial housing was 5,379.9 billion yuan, a year-on-year decrease of 13.9%; the online second-hand housing transaction area nationwide was 617.46 million square meters, a year-on-year increase of 10.7%.

Mao Shengyong, spokesperson and deputy director of the National Bureau of Statistics, said at the press conference of the State Council Information Office held on October 19 that the current real estate development has reached the stage of controlling increase, reducing stock, and optimizing supply. Instead of paying too much attention to real estate investment, it is better to pay more attention to transactions, inventory, prices and other real estate-related indicators."Judging from these relevant indicators, the entire real estate market is developing in a positive direction." Mao Shengyong said.

Online signing data from the Ministry of Housing and Urban-Rural Development shows: In terms of transactions, the online signing area for second-hand housing transactions increased by 10.7% in the first nine months of this year; in terms of inventory, the area of new commercial housing for sale across the country fell by 1.5% at the end of September, and the year-on-year growth rate has been declining for seven consecutive months; in terms of prices, two more cities saw a month-on-month increase in new home prices in September than in the previous month, and six more cities in which second-hand house prices increased month-on-month.

In recent times, new policies in the property market have continued to exert force.The State Council executive meeting held on September 28 emphasized the study and introduction of policies and measures to stabilize the real estate market and promote employment and income.On September 29, the Ministry of Finance, the People's Bank of China, and the State Administration of Financial Supervision issued the "Notice on Implementing the Interest Subsidy Policy for Residential Home Purchase Loans". From October 1, eligible residents who use newly issued commercial personal housing loans to purchase their first homes will implement fiscal interest discounts to reduce the cost of home purchase.In addition, Beijing, Shanghai, Guangzhou and other places have successively introduced implementation details for existing home sales.

Yan Yuejin believes that with the advancement of the reform of the existing home sales system, the implementation of local versions, and the advancement of mortgage discount policies, the policy effects will be further released, further promoting the stabilization of housing prices and promoting the good development of the real estate market.