China Index Academy National Day property market observation: Transactions improve year-on-year, market differentiation continues

Zhitong Finance APP has learned that the China Index Academy pointed out in a report that, based on online signing transaction data, the online signing volume of new homes and second-hand homes in key cities during the National Day holiday was generally better than the same period last year. According to China Index data, from October 1 to 7, new residential transactions in 25 key cities totaled 551,000 square meters, up 33.8% year-on-year on a daily average basis compared with last year's National Day holiday, and basically flat compared with the 2024 National Day holiday; in the second-hand housing market, the average daily number of transactions in 11 key cities rose 42.8% year-on-year, but there is still a certain gap compared with the same period in 2024. It should be noted that online signing transaction volume during the National Day holiday itself is at a relatively low level for the year, and is greatly affected by factors such as the holiday filing pace and the base in the same period, so year-on-year growth rates are prone to relatively obvious fluctuations. From the perspective of city performance, new home online signings in cities such as Beijing and Hangzhou saw relatively large year-on-year increases, Shanghai and Wuhan recorded growth, while cities such as Shenzhen and Chengdu declined. At the project level, improvement projects in core areas, developments with more prominent location and product advantages, and projects with greater discounts attracted more attention, while some projects in middle and outer suburbs still mainly relied on price discounts to promote sales, and the market's uneven performance continued.