Shenzhen and Chengdu Led Housing Price Rebound in November
The second-hand housing market once again played the role of a leading indicator for market recovery. On December 11, the China Index Academy released the November 2024 second-hand housing price map for ten major cities. In November, the average price of second-hand residential properties in 100 cities fell 0.57% MoM, narrowing the decline by 0.03 percentage points from the previous month. The second-hand housing market in first-tier cities showed more active performance, with the average price of second-hand residential properties in ten major cities dropping 0.17% MoM, narrowing the decline by 0.16 percentage points from the previous month.
Among them, the prices of second-hand residential properties in Shenzhen and Chengdu rose 0.21% and 0.12% MoM respectively, breaking the trend of continuous decline across 100 cities for seven consecutive months. Industry experts stated that with the support of "tax reduction for home purchases" policy, it is expected that the transaction volume of second-hand houses in core cities will continue to remain high, and prices are likely to continue to adjust.
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