The regulation of the property market has increased again. Has your house price dropped?

CCTV News:Yesterday, according to Weibo, the official news of the Press Office of Hangzhou Municipal People’s Government, the Hangzhou Municipal Government decided to further implement housing purchase restriction measures and raise the down payment ratio of provident fund loans from today. The down payment ratio of the first suite is adjusted from no less than 20% to no less than 30%; For those who own one set of housing, the down payment ratio of house purchase will be adjusted from not less than 50% to not less than 60%; Those who own 2 or more houses or outstanding housing provident fund loans may not apply for housing provident fund loans.

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Property market regulation policies are frequently stricter than expected.

Previously, many cities have issued new property market regulation policies. In the six days from September 30th to October 5th, 15 cities including Beijing, Tianjin, Suzhou, Chengdu, Zhengzhou, Wuxi, Jinan, Hefei, Wuhan, Shenzhen, Guangzhou, Foshan, Nanning, Nanjing and Xiamen successively issued the New Deal.

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Not only that, but the strictness of the new property market regulation policy has also exceeded market expectations. On the one hand, the down payment ratio in many places has been raised by 5%-10%. For example, Beijing has increased the down payment ratio of the first suite from 30% to 35%, and this time the Hangzhou property market regulation policy has increased the down payment ratio of the first suite by 10 percentage points. This upward adjustment will increase the pressure of buying houses to a certain extent for those just in need whose economic situation is not very ideal; On the other hand, the purchase of houses by non-local people has been strictly restricted. In the previous purchase restriction policy, Hangzhou has suspended the sale of newly-built commercial housing and second-hand housing for non-local registered households who cannot provide personal income tax or social insurance certificates for more than one year in the previous two years from the date of purchase, and non-local registered households are not allowed to purchase housing by paying personal income tax or social insurance. 

The New Deal continues to maintain the real estate market.

On October 28th, the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting, pointing out that attention should be paid to curbing asset bubbles and preventing economic and financial risks. China Banking Regulatory Commission (CBRC) has stipulated that it is strictly forbidden for bank wealth management funds to enter the real estate sector in violation of regulations. Shanghai Stock Exchange makes it clear that real estate corporate bonds are not allowed to purchase land. On November 3rd, the Shanghai Headquarters of the Central Bank issued the Resolution on Effectively Implementing the Spirit of Shanghai Real Estate Regulation and Promoting the Orderly Operation of the Real Estate Financial Market to maintain the order of the real estate financial market.

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Regulation, escalation and strict investigation of violations of clear price tag

On November 8, the regulation of the property market was upgraded again. The National Development and Reform Commission and the Ministry of Housing and Urban-Rural Development jointly issued a document to conduct a special inspection on the clearly marked prices of commercial housing sales in all provinces, autonomous regions, municipalities directly under the Central Government, cities under separate state planning and sub-provincial capital cities for a period of one month (from November 10th to December 20th), focusing on the following behaviors:

1. The sale of commercial housing is not clearly marked, and it is not clearly marked in a prominent position in the trading place;

2. Failure to implement "one set and one standard" as required;

3. Not disclosing all the sales houses at one time;

4. The fees charged by the collection agency for commercial housing transactions and property rights transfer are not indicated by the consumers’ voluntary choice;

5. Incomplete labeling information, failure to clearly mark the price, publicize relevant charges and other factors affecting the price of commercial housing in accordance with the provisions;

6. Mark the price clearly in various ways, and the contents of the price are inconsistent;

7. Increase the price in addition to the marked price and publicity fees, and charge other fees that are not marked;

8. Other acts of selling commercial houses in violation of the provisions of clearly marked prices.

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The cooling trend of the property market is obvious

Since the introduction of a large number of property market regulation policies during the "Eleventh" period, in just two weeks, the number of online housing contracts in 54 major cities across the country has decreased by 34% month-on-month, and the number of housing contracts has dropped significantly.

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In Beijing, Shenzhen, Guangzhou, Nanjing, Hefei, Xiamen and other cities with strong property market regulation, the effect is even more obvious. Take the number of new commercial residential buildings in Beijing as an example. From October 1 to 15, a total of 1,579 sets of new commercial residential buildings in Beijing were signed online, a decrease of 45% compared with the same period of last month and a decrease of 42% compared with the same period of the first half of October last year.

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Among them, in the eight days after the National Day, the daily average number of online signings in Beijing was 170 sets, which was 31.4% lower than the average of 248 sets in September. Compared with the daily average of 191 sets in the first half of September, it decreased by 11%. Even excluding the impact of the National Day holiday, the data of Beijing’s new housing market still declined, and the market cooling trend was obvious.

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Similar to the first-tier cities, the second-tier cities have also shown a cooling trend. According to the data released by the Changsha Housing and Urban-Rural Construction Information Center, during the week from October 2 to October 8, 4,776 new houses were sold in the downtown area of Changsha, down 41.15% from the previous month. In Tianjin, the transaction volume and average transaction price of real estate also declined to varying degrees. From October 1st to 10th, the transaction volume of newly-built commercial housing was 541,000 square meters, down 41.2% from the average daily level in September, and the transaction volume of second-hand housing was 224,000 square meters, down 20.6% from the average daily level in September.

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Property market cooling focuses on implementation.

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In fact, every time the property market regulation policy initially looks very strict. However, after the introduction of the policy, it is not important to evaluate its severity on paper, but to put it into practice to see how its implementation effect is. After all, under the routine of "there are policies on the top and countermeasures on the bottom", too many seemingly thunderous "policy punches" have been dodged by the market. The property market regulation measures, such as increasing the down payment ratio of ordinary housing, can only reflect its value if they are really implemented.