Jinwu Financial News | According to Caixin Securities Research, in the second week of April, new home sales continued to decline year on year. Housing prices across the country continued to decline, the scale of land market transactions continued to shrink, and the overall popularity of the market was still low. Against the backdrop of insufficient demand for home purchases, the real estate market is under high pressure to remove inventory, and subsequent land supply adjustments may be accelerated to achieve a new balance between supply and demand.
According to the bank, due to the low base of the Ching Ming Festival last week, new housing sales increased month-on-month this week, but the year-on-year decline was still large, and land supply and demand continued to shrink. From April 8 to April 14, the weekly commercial housing transaction area in 30 large and medium-sized cities increased 45.15% month-on-month, decreasing 43.51% year-on-year; the inventory and sales ratio of commercial housing in the top ten cities was 73.40, and the inventory removal cycle was 99.15 weeks, and the pressure to remove inventory was still strong; the land area traded in 100 large and medium-sized cities decreased by 3.08% month-on-month and 66.14% year-on-year.
The bank said that at present, policies related to the real estate market are continuing to be strengthened, and there is still room for further strengthening in the future. Judging from the deployment of the Central Economic Work Conference, the “three major projects” will be the key tasks of this year, focusing on state-owned infrastructure enterprises represented by China Construction and China Power Construction; as demand stabilizes and building security advances, property market sales are expected to improve marginally, and attention can be paid to large state-owned housing enterprises with stable fundamentals such as Poly and China Merchants Shekou; in the context of the continuous promotion of real estate financing coordination mechanisms, some of the leading private enterprises included in the housing enterprise financing “white list” such as Longhu (00960) and Jindi (00535) are expected to welcome Credit repair.