China Property:Weekly sales down 6%WoW,9%below three-month average

Weekly sales down 6% WoW, down 1% MoM and down 12.4% YoY

    For the week of 12-18 December 2016, the total sales volume in 32 major citiestracked by Soufun declined 6% WoW, to 4.971msqm. The volume was down1% MoM (32 cities) and down 12.4% YoY (32 cities). In December MTD, thevolume rose 9% MoM (28 cities) and declined 6% YoY (27 cities). YTD volumeamounted to 164.2msqm, up 16.5% YoY (16 cities). The weekly sales volumewas 9% lower than the three-month average (5.45msqm). YTD ASP stood atRMB16,174 psm, up 23% YoY (17 cities). The weekly ASP of RMB14,535 psm(30 cities) was 2% lower than the average of the past three months(RMB14,875 psm).

    Volume in Tier-1 cities declined 9% WoW

    The sales volume in Tier-1 cities declined 9% WoW, to 853ksqm; it was up10% MoM and down 43% YoY. In December MTD, the sales volume in Tier-1cities amounted to 2,376ksqm, up 22% MoM, but down 24% YoY. YTD volumefor Tier-1 cities amounted to 49.0msqm, down 2.1% YoY. YTD ASP stood atRMB31,985 psm, up 38% YoY.

    Volume in Tier-2 cities declined 8% WoW

    The sales volume in Tier-2 cities declined 8% WoW (13 cities), to 2.86msqm; itwas down 3% MoM (13 cities) and down 2% YoY (13 cities). In DecemberMTD, the sales volume in Tier-2 cities rose 6% MoM (13 cities) and declined2% YoY (11 cities). YTD volume for Tier-2 cities amounted to 89.6msqm, up23% YoY (six cities). YTD ASP stood at RMB13,771 psm, up 19% YoY (eightcities).

    Volume in Tier-3 cities gained 1% WoW

    The sales volume in Tier-3 cities gained 1% WoW (15 cities), to 1.26msqm; itwas down 2% MoM (15 cities) and up 4% YoY (15 cities). In December MTD,the sales volume in Tier-3 cities increased 7% MoM (11 cities) and 6% YoY (12cities). YTD volume for Tier-3 cities amounted to 25.6msqm, up 43% YoY (sixcities). YTD ASP stood at RMB7,369 psm, down 3% YoY (five cities).