Transactions of new residential properties in Beijing surged by nearly 60% in September, and the online signing volume during the Mid-Autumn Festival quadrupled year-on-year.

Recently, new property market policies have been introduced frequently. Starting from August 7, Beijing lowered the home purchase threshold within the Fifth Ring Road and significantly increased the provident fund loan quota; then on August 28, three central ministries and commissions issued a notice to promote existing home sales, and extended the maximum loan term to 40 years; before the Mid-Autumn Festival, Beijing implemented the detailed rules for existing home sales.

What changes have this series of policies brought to the property market? What impact will the detailed rules for existing home sales introduced before the festival have on the new home market? These are the concerns of many followers.

The recently introduced policies, especially policies related to pre-sales and existing home sales, are mainly targeted at new homes, so let's first take a look at the situation of the new home market.

According to the statistics of online signing data from the Municipal Commission of Housing and Urban-Rural Development, as of September 27, 3,876 new homes have been traded in Beijing in September, a sharp increase of 59.9% compared with the same period in August.

From the performance of individual real estate projects, it can also be seen that many new home projects have sold well in September. On September 19, on the opening day, 408 out of the 510 units of Yizhuang Guoxianfu were sold, and all 296 units of Huying Tianqing in its first opening were sold out. On September 22, Longyue Jingxu located on the West Fourth Ring Road opened for sale, 664 out of the total 736 units of the project were sold on the same day, with a de-leading rate of over 90%.

During this three-day Mid-Autumn Festival holiday, the number of online signings for new homes did not show the low level that usually occurred in past holidays, with the number of online signings reaching 254, 161 and 186 respectively in the three days. In the three days of the Mid-Autumn Festival last year (last year's Mid-Autumn Festival and National Day holidays were combined, based on October 6 to 8), the number of online signings for new homes was only 46, 42 and 32 respectively. The total number of online signings in the three-day Mid-Autumn Festival is about 5 times that of the same period last year.

At present, the transaction volume of new homes in Beijing in September will most likely exceed 4,000 units. What does this figure mean?

Generally speaking, when the monthly transaction volume of new homes in Beijing is below 2,500 units, the market is relatively sluggish; 2,500 to 3,300 units is at the normal level; 3,400 to 3,900 units belongs to a relatively warm market; more than 4,000 units is at a significantly strong peak season level. So far this year, only the month of June has exceeded 4,000 units.

In addition, the second-hand housing market during the Mid-Autumn Festival holiday also performed well on the whole, with the number of viewings and transaction volume both rising compared with the same period last year.

According to the statistics from Lianjia Beijing, the number of second-hand housing viewings during this year's Mid-Autumn Festival holiday increased by about 38.8% year-on-year, and the transaction volume increased by about 18.8% year-on-year.

As of September 24, the number of online signings for second-hand housing in Beijing was 12,946 units, an increase of 27.7% compared with the same period in August. However, the number of online signings on weekends and holidays is generally relatively low, and the three-day Mid-Autumn Festival holiday will "drag down" the online signing volume of second-hand housing. Comprehensive forecasts show that the total transaction volume of online signings for second-hand housing in September will be roughly equivalent to that in August.

This article is from the WeChat Official Account "Jingfangzi", author: Jingfangzi, published with authorization from 36Kr.