Shenzhen Secondary Housing Association: Shenzhen's second-hand housing transaction volume fell below the 5,000-unit mark in August. The market is hoping for follow-up policies.

According to statistics from the Shenzhen Real Estate Association, in August 2024, there were 4,671 second-hand housing transactions in Shenzhen, a decrease of 13.2% compared to the previous month and an increase of 50.0% compared to the same period last year. In August 2024, a total of 2,865 new homes were sold in the city, a decrease of 5.1% compared to the previous month and an increase of 10.1% compared to the same period last year. Among them, 2,537 new residential homes were sold, a decrease of 3.0% compared to the previous month and an increase of 15.4% compared to the same period last year. The new housing market has shown a continuous slight decline trend, but compared to the same period last year, there has been a certain increase in transaction volume. The Shenzhen Real Estate Association stated that since entering August, the intensity and strength of market bargaining have been significantly stronger than in the first half of the year, and the trend of owners making "concessions" in prices has been further intensified. The current second-hand housing market is still not firmly rooted on the surface. Based on this analysis, as the market enters the traditional sales season, "Gold September and Silver October" as the key period for the second half of the year's real estate market, it is expected that these two months may overlap with policy support. In the traditional off-season, the activity of transactions for both new and second-hand houses has decreased. In August, the volume of second-hand housing transactions decreased, but remained relatively high for the year. As of September 1, there were 63,715 second-hand houses available for sale in the city, an increase of 1.2% compared to August 1. The market is currently experiencing fluctuations in the number of second-hand houses for sale but is showing a trend of overall slight growth. The market policy expectations are increasing, and it is likely that "Gold September and Silver October" may encounter favorable conditions. There is high anticipation for policies during this period, and the market is expected to see a boost in activity.