Housing prices up in October

In late October, the Central Bank announced the fifth interest drop of the year, that is, the benchmark annual interest rate for loans from the financial institutions would decrease by 0.25 percentage point (to 4.35%), and the benchmark annual interest rate for deposit would also decrease by 0.25 percentage point (to 1.5%).

The decrease of the loan interest rate is a great stimulation to the market. Then in the traditional prosperous month of October for housing industry, what is the situation like?

According to the statistics from the monitoring center of the Fang.com (Ningbo), in October, 3605 houses have been sold in the six urban districts, with an average transaction price of 13793.17 yuan per square meter. Compared with in September, the amount dropped by 1.2%, while the average price rose by 0.5%. The amount of transaction decreased by 12.8% while the average price increased by 2.3% over the same period of last year.

Compared with the same month of previous years, the transaction amount is much higher than other years except last year, and the price reached a record low last October before the bounce-back this year. In 2011, only 600 houses were sold in October, while in 2012, nearly 1500 sets, in 2013, over 2800 sets, and in 2014, a record high of over 4000 sets.

The sales in October remain stable compared with the previous month both in terms of amount and price. However, there is still a large stock of houses. According to www.cnnbfdc.com, there are 43190 houses available currently, with a total area of 5.77 million square meters.

To be specific, the 3rd phase of the Universe Oriental Port project in Beilun District has ranked No.1 among all the housing projects with the total sales of 385 sets since September when it was open to sales, and the average transaction price stood at 11980.69 yuan per square meter. No.2 goes to the Lingshang project developed by the China Countryside House Group in Beilun District, with the amount of 141 sets and the average price of 8584.54 yuan per square meter. The International Community developed by the China Overseas House Group ranked No.3 with a sales amount of 135 sets and the average price of 11112.82 yuan per square meter.

Eight out of the top ten housing projects provide houses for the rigid need of the citizens with the average price of about 10,000 yuan per square meter, except for the Happy Coast (No.6) and the Jinshengjinpan housing project (No.8), which have an average price of about 20,000 yuan per square meter.

In terms of the district, Yinzhou District ranks No.1 with 1570 sets, Beilun District, No.2 with 876 sets, and Zhenhai District, No.3 with 436 sets. And the three districts are where there is greatest rigid need for housing among all the districts.

LINK:	http://en.nbwh.gov.cn/art/2015/11/10/art_1325_76357.html...
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