Agency: In August, the price of second-hand housing in 100 cities continued to decline, and the price of new residential buildings rose by 1.76% year-on-year.

On September 1st, according to the survey data of China's real estate index system 100 cities' new and second-hand housing sales market and 50 cities' rental market in 100 cities across the country, in August 2024, the average price of second-hand housing in 100 cities was 14,549 yuan/square meter, down 0.71% month-on-month, and the decline was narrowed by 0.03 percentage points from July. It has fallen for 28 consecutive months; the year-on-year decline was 6.89%. The current owner's "price-for-volume" drives the price of second-hand housing in 100 cities to continue to decline. The average price of new housing in 100 cities was 16,461 yuan/square meter, up 0.11% month-on-month and 1.76% year-on-year. Driven by the entry of high-quality improvement projects in some cities, the price of new housing in 100 cities rose structurally month-on-month. The average rent of housing in 50 cities across the country was 36.2 yuan/square meter/month, down 0.20% month-on-month and 2.13% year-on-year. In August, with the weakening of the graduation season effect, the release rhythm of rental demand slowed down, and residential rents in key cities turned to a slight decline.