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Deals Struck in Second-hand Housing Reacha 7-year High in Ningbo

The first half year of 2016 have seen a craze both in purchases and sales in the real estate market in Ningbo. In conjunction with the increasing interest gained in newly-constructed commodity housing, the turnover in second-hand housing has reached a new high since 2009.
Xiaojiang, a seasoned house agent, has been occupied with introducing waves of customers to several stock houses in Yinzhou District these months.
“It seems that the enthusiasm towards housing is contagious. Despite a frantic pursuit in the market of new commodity housing, the sales achieved in second-hand housing have well surpassed those of commodity housing in the first half of this year,” Xiaojiang said. “The average price remains steady as against a hike in the sales of stock houses. Even if there is a rise in the price, the fluctuation is relatively low under the context of a whole year. ” 
The figure 27,327 has hit a historical record since 2009, transcending the best performance over the same period registered in 2013 at 21,136 units and that of the newly-built houses. 
Revealed by the information of the deals closed in the downtown houses, 27,327 second-hand houses were sold out in the first half year of 2016, an increase of 11,024 units over the same period in 2015, up 67.62%. Deals struck in February are the lowest with 1,646 houses traded. However, the trading volumes in March and April mounted surprisingly with sales standing separately at 5,517 units and 6,201 units, ushering in the peak in July. With the coming of May and the taking in of policies, the enthusiasm of purchasers faded away. More people assumed a stand-by pose, leading to the falling of trading volumes to a stable level wavering around 5000 units.
According to the statistics in Ningbo provided by Nantian Real Estate and the 21th Century Real Estate, Yinzhou, Jiangdong and Haishu District are widely preferred as favorable sites for second-hand housing while as regards the specific types of buildings, multi-floor housing, high-rises and small high-rises rank top three in sales. In terms of house types, houses with a coverage ranging from 60 square meters to 120 square meters occupy half of the market shares.  

Viewing from the individual demands, several key factors contribute to the purchasing craze such as the school district, the shack renovation project, the underground system and the transfer to the east. Qinglinwan project (1st to 5th phase) in Haishu District, JinxiuDongcheng, BeianQinseng in Jiangdong District and FenggeChengshi (Style City) in Yinzhou District are all the housing projects whose commodity houses are traded at a high average price and whose stock houses are enjoying a spring in sales.
“At present, with the mortgage rate declining to the lowest level in 10 years, the housing market has responded proactively, which is primarily driven by easy policies,” Zheng Guiliang, the vice general manager of Nantian Real Estate said. “The three preferential policies of tax reduction or exemption, easy credit policies and the reduction of benchmark interest rate as well as the newly-initiated shack renovation project are all contributing forces.”
Besides, low fluctuation of the price directs the attention of purchasers to stock houses.The statistics show that in the first half year, the average price of second-hand houses in the sixth downtown district stands at 9,531yuan per square meter while that of the fourth district 13,130 yuan, all remaining at a stable level. The price of those second-hand housing communities which are related to school districts is the firmest with a reasonable range of rises.
Concerning the prospect, the professionals in the housing market remarked, “in light of the further decrease of supplies of commodity houses in the core downtown areas and the intensive release of housing demands in the first half year, the turnover of second-hand housing in the next half is estimated to go down.”

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