Hangzhou Housing Rebound Fades

It may be time for developers to start panicking. Home buyers in Hangzhou started off with 2000 Panic Buyers, but the effect is fading quickly as buyers wait for prices to bottom. One sales agent said it seems like ending buying restrictions had no effect.

The reporter in the story says that the gap between a rebound in sales and sales agents not seeing a change in the market is due to the market having not yet formed a bottom. A rebound is preceded by a bottom, but the market in Hangzhou hasn't stopped falling.

Perhaps the reason is because the market has put in a major top and a bottom is still a long ways off........

From iFeng:
杭州楼市正在经历“价格筑底期” 购房者总想再等等

July 29, Hangzhou adjustment restriction policy, but now nearly a month's time. In the past month, obviously feeling the market is steadily warmer. Data given in terms of support, too. Before the policy change, the main city of Hangzhou (including Xiaoshan, Yuhang), the daily trading volume of about 120 units, the policy adjustment, the figure basically doubled.

However, this rebound in sales staff there has not been significant feedback, reporters in the past period of time, with many sales staff communicated, maximum sentence is heard - how could such a poor market, the purchase adjustments does not seem to play any role in it.

Why is there between the narrative out of the market data and sales staff so the difference? Reporter survey found that, before each round of a strong rebound in the property market, the market segment you really want to experience such a "price bottoming period", and the current property market is in such a period, for more real estate is concerned, to usher in the ideal Strong Sales may also be required after this period.

The so-called "price bottoming period", referring to the first days after the policy change from the beginning to rebound in the property market ushered in the period of time until complete. A typical feature of "price bottoming period" is the policy bottomed out, but prices have not yet bottomed out, the overall market is still in a "price change" Ruoshi stage, while buyers are also going through a struggle from the sidelines to the psychological state process of change.

The "price bottoming phase," the reason why the market was feeling kind of differentiation, because some projects, take advantage of this window period, continue to use their high cost impact on the market, so as to win market share. A typical representative of this is the catch this time selling European financial city [ latest news Price Unit Reviews ] (efc), 8月16 day of the opening date, has sold nearly 500 house. It is also nice to be able to explain why the market transaction data on the rise, while many salespeople still do not feel the reason, because the market transaction data, there is a large part by the "star-class real estate" to create, in addition to efc, as well as Riverside · Gold southern [ News Price Unit Reviews ], Vanke [ Introduction News ] · Future City [ latest news Price Unit Reviews ] and so on. Some continued marketing drive, such as Greentown [ Introduction News ] Rankin Park, after the price adjustment in place, also received good market response.

Then the "price bottoming period" will last how long? According to statistics learned from our recent strict control policies by the end of 2008 to the width is.

That time, the continuous hike and two sets of mortgage under strict action, Hangzhou property market has worsened. Coupled with the impact of the 2008 global financial crisis on China's economy, by the end of October 2008, the government finally issued a document bailout hopes tax relief, lower lending rates and deregulation two suites and other measures to stimulate the property market.

Such a policy does not allow the property quickly pick up until March 2009, began Hangzhou property market turnover rebounded significantly. In May 2009, the main city commercial housing turnover is a historic breakthrough million units, the property prices have also rebounded. And in October 2008 to March 2009 of this period, the property market turnover sluggish performance, prices continued to dip, many plates also appeared Rate historic lows.

According to industry estimates, this time due to less "4 trillion" stimulus, while inventory is high, the duration may be longer whole "price bottoming period."

"This time we opened, I have a friend who wanted to buy, house and the first open [ Introduction News ] He also felt very satisfied with the price, but an hour before the opening approaching, he sent me a text message, saying over and over again after consultation with parents, or decided not to buy, want to wait and see. " There is a real estate west of the city, just opened this past weekend for the first time, its marketing director, told reporters, "I can see, his heart is also experiencing a lot of struggle, in the past he may just wait and see, now is the time to buy a house that is almost, but the total think there is a cheaper house can wait. "

But the director of marketing for the market outlook still showed enough optimism, "Obviously, we are now in the shake, if true, as rumors say, the bottom line shopping can all be open this month, may accelerate buyers into the market, get through this period, the property will be a lot brighter. "