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chao news client writes tan xiaofeng and chen ye

the policy dividends spread from the stock market to the property market in just one national day holiday.

in the last week of september, policy was in full swing. a series of fiscal, financial, monetary, real estate and other related policies were introduced intensively, which was overwhelming, and the stock market was the first to experience a surge.

the property market also ushered in a "change in style" during this national day holiday. the reporter interviewed some intermediary stores in the province and found that both the number of visits and the volume of transactions have increased significantly compared with the same period in previous years. online, "experts say the long-awaited silver ten in the property market is back" once ranked no. 1 on weibo on october 3.

is the "silver ten" real estate market really back? before the data is released, it is difficult to make a judgment, but judging from the reporter's interactions with real estate practitioners, buyers and sellers, everyone's confidence has really returned.

is the "silver ten" real estate market really back? photo by tan xiaofeng

agents “not closed” during the national day holiday

in every round of market changes, real estate agents are often the first to sense and respond to the "spring river water warmth".

on october 2, xiaoying, the agent of deyou real estate jiaxing funan garden store, after seeing off a wave of house viewing clients, finally had time to post on moments: during the national day, house viewings are from morning to night and can’t stop at all. come down!

on the eve of the national day, the property market threw out "big bombs" one after another: on september 24, the central bank guided commercial banks to lower the existing mortgage interest rates to near the new mortgage interest rates, and unified the minimum mortgage down payment ratio for first and second homes; on september 26 , the political bureau meeting of the central committee pointed out that "promoting the real estate market to stop falling and stabilize"; on the evening of september 29, the three major first-tier cities officially announced late at night that guangzhou would fully liberalize purchase restrictions, and shenzhen and shanghai would liberalize conditions; on the evening of september 30, beijing, the city with the most stringent enforcement of purchase restriction policies in the country, has relaxed purchase restrictions and significantly lowered the threshold for home purchase.

the property market seemed to "wake up" overnight.

"everyone is working overtime during the national day holiday. we are the busiest when others are on holiday. there are still a lot of transactions these days." xiaoying said that in the two days before the national day holiday, the number of viewings and transactions was almost 50% more than usual. there was both rigid demand and improvement. some customers made money in the stock market a few days ago and rushed to see the house during the national day holiday.

once the policy is released, the market will see an immediate impact. photo by tan xiaofeng

on september 30, yuhang district of hangzhou city introduced a new policy for the property market, including three policies: increasing housing provident fund support, implementing "old-for-new" deed tax subsidies, and issuing house purchase subsidies. once the policy is released, the market will see an immediate impact.

at 8 a.m. on october 3, li jingqin, the agent of deyou real estate’s yuhang yajule international garden store, went out to look at properties with clients. he did not return to the store until around 12 noon. before he had even had a bite of food, another group of clients came to the door. . on this day, li jingqin took two groups of customers to view the 14th and 5th suites.

"these two groups of customers are in urgent need and have a strong willingness to buy a house." li jingqin said that one group is an old couple who want to buy a wedding house for their children in hangzhou. the other group has worked in hangzhou for many years and has never bought a house. now considering the low down payment and low interest rate, and feeling that housing prices have almost dropped, they want to buy a house and settle in hangzhou.

ji yong, the store manager of deyou real estate yuhang agile international garden store, told reporters that the store was originally on national day holiday on october 1 and 2, but the agents basically had no rest and were busy showing customers the properties or taking calls from customers. "usually there are very few visits in the two days before the long holiday, but this year the change is more obvious. the number of calls and visits is 30% to 50% more than usual." jian yong said.

"the number of people viewing houses has increased significantly since the 3rd. the store has received no less than ten groups of customers a day. usually, there will be more people viewing houses in the second half of the holiday." jian yong said.

some landlords are not in a hurry to take action.

ms. dong has been very troubled these past two days.

six months ago, in order to ease the financial pressure on her business, she put a townhouse in the zhijiang section up for sale. but on october 2, she called the agent and refused to sell.

"this was originally a relatively scarce house. if it weren't for financial constraints, i wouldn't be willing to sell it." ms. dong said that the stock market has surged recently, and her husband's stock account has recovered more than 1 million yuan, temporarily easing some of the pressure. at the same time, new policies for the property market are being introduced in various places, and everyone's expectations for housing prices have also greatly improved. "it's a pity to sell it. let's wait and see for a while." ms. dong said.

a high-end real estate agent in the zhijiang sector told reporters that since the new property market policies were introduced at the end of september, market sentiment and expectations have been changing. home buyers are no longer so pessimistic, and home sellers are no longer eager to sell.

"almost every day, property owners call to ask whether house prices will rise, and customers who want to buy a house will also ask whether house prices will fall. but buyers and sellers are obviously more rational than before, and the market is tending to balance." the agent said, "in recent times, the number of viewings has increased a lot compared to august and september. a small number of property owners have also withdrawn their previously listed properties."

the mentality of buyers and sellers in the property market is changing. photo by tan xiaofeng

according to jian yong's experience, every time a favorable policy for the property market is introduced, it will stimulate an increase in transaction volume, but at the same time, there will also be situations where owners are "reluctant to sell".

"now, the number of visits and transactions has begun to increase, but the number of listings is still about the same as before. this shows that the mentality of buyers and sellers is changing." jian yong said.

"sellers are more confident." jian yong said that individual owners requested to increase the listing price, while more sellers were unwilling to negotiate too much. "they think there is no point in selling in a hurry, and they will use policies to convince us that the stock market is already rising, the economy will get better, and the property market has bottomed out."

it feels like pie is falling from the sky

on september 30, ms. zhang woke up and started checking moments. the news that the existing mortgage interest rates were adjusted was all over the screen, which made her feel like she was about to be "stunned".

"i feel like a pie is falling from the sky." ms. zhang said, "i didn't expect the policy to be so powerful, a complete national day gift package!"

2021 will be a year of rapid development for the hangzhou property market. ms. zhang, who had been working in hangzhou for many years, finally made up her mind to buy a house at the end of the year and officially settled down.

it will be early 2022 when the mortgage loan is approved. coupled with the rising interest rates, ms. zhang's mortgage interest rate is as high as 5.3%, and her monthly repayment is 7,235 yuan. "i have a neighbor who owns a second home, and the mortgage interest rate is even more than 6%. now it seems that he has been treated as a 'big wronged'." looking back, ms. zhang still feels distressed for the interest paid that year.

source: cfp

since then, after multiple rounds of adjustments, ms. zhang’s monthly repayments have continued to decrease. however, during this period, the phenomenon of "early repayment of loans" continued to increase. in march 2024, ms. zhang also took 100,000 yuan of spare money to repay the loan in advance.

today, ms. zhang’s mortgage interest rate has dropped to 3.95%, and her monthly repayment has dropped from the original 7,235 yuan to 5,931 yuan.

ms. zhang calculated that if the mortgage interest rate can be reduced to 3.55% this time, her monthly payment will become 5,422 yuan, saving another 509 yuan every month.

"i can save more than 500 yuan a month, which is more than 6,000 yuan a year, which is a lot of money." ms. zhang said.

in addition, dong ximiao, chief researcher of china merchants union, pointed out that the people's bank of china's policy interest rate was previously lowered by 20 basis points, and the lpr may follow the 20 basis point decrease on october 21. the adjusted existing mortgage interest rate may drop to about 3.35%. some borrowers' mortgage rates interest rates will fall by more than 100 basis points (i.e. 1 percentage point).

on the first day of the national day holiday, ms. zhang took her family on a short trip to anji. "if interest rates continue to fall, the mortgage loan pressure on the family will be much lighter, and consumption will be more confident." ms. zhang said that she is already looking forward to the new policy being implemented as soon as possible.