At the same time, on August 22nd, the central bank lowered the one-year loan market quotation (LPR) from five-year loan market quotation (LPR), and the LPR was lowered by 5BP, 1 five-year 15BP, which is just the opposite of the previous interest rate reduction structure, indicating that the mortgage interest rate is obviously overestimated and the interest rate reduction structure needs to be reversed. At the same time, the overall performance of financial data in July was weak, and the credit data was far below market expectations, which was also the main reason for this interest rate cut. The five-year LPR is reduced by 15bp, and the intention to stabilize the mortgage is obvious.
Judging from the policies of stabilizing the property market in various places, many cities continue to deepen the policy of loosening the property market, and first-tier cities such as Shanghai and Shenzhen have begun to loosen the purchase restriction measures for specific groups. There are also more cities to support and guide banks to reduce mortgage interest rates through provident funds, reduce the down payment ratio of housing commercial loans, ensure rigid housing demand, and reasonably support improved demand.
First, all localities practice "ensuring the delivery of houses and stabilizing people's livelihood"
Since the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting on July 28th put forward the idea of "guaranteeing the delivery of houses and stabilizing people's livelihood", more and more cities began to join the tough battle of "guaranteeing the delivery of houses". Zhengzhou, Ningbo, Xianyang, Pingdingshan and other cities have successively held symposiums on housing enterprises to fully implement Baojiaolou.
Judging from the measures to protect the corner building, on the one hand, it starts from the enterprise side to ease its financial shortage. At present, the concrete measures mainly include: setting up a rescue fund, such as Zhengzhou's plan to set up a real estate rescue fund of 654.38+0 billion; Docking needs with financial institutions, such as the research of Zhejiang Housing Society on the docking needs of real estate enterprises and financial institutions in Zhejiang Province; The leadership responsibility system is implemented, such as the leadership contract system for commercial housing projects in Changzhi, Shanxi Province, and the municipal leaders contracted more than 5 billion projects. Pingdingshan, Xianyang, Suining and other cities have established "one-on-one" assistance policies; Organize enterprises and institutions to buy, such as Meishan, Sichuan, to give corresponding preferential treatment for the one-time purchase of more than 30 new commercial houses; The pre-sale standard has been lowered. For example, Beijing will reduce the minimum size of applying for pre-sale permit to 10 building.
On the other hand, from the perspective of protecting people's livelihood, the policy of "guaranteeing the delivery of houses" is mainly realized from strict industry supervision and credit approval. For example, many banks in Qingdao implement the policy of "granting mortgage loans after the property is capped", Changsha clearly implements the model of "government supervision and bank monitoring" for pre-sale funds, and Weihai in Shandong embodies the main contents of the supervision agreement on pre-sale funds of commercial housing in the purchase contract. It is worth noting that in addition to "ensuring delivery", there are many places where the housing transaction process is more standardized. For example, the implementation of "house delivery" in Henan is a simplification of the development and delivery process of housing enterprises and a means to protect consumers' rights and interests, thus enhancing people's confidence in buying houses. In fact, Sichuan, Gansu, Hebei and other provinces have also introduced relevant policies before, and similar practices will become a policy trend in the future.
Second, stabilize the property market and the provident fund will continue to play its role.
Since this year, the provident fund has played an important role in stabilizing the property market. As of August 3 1, since the beginning of this year, * * * has issued policies to stabilize the property market for nearly 530 times, among which 7 1% provinces and cities have issued corresponding support policies related to provident fund, accounting for the highest proportion among all kinds of support policies. /kloc-In August of 0/6, the Health and Health Commission issued the Guiding Opinions on Further Perfecting and Implementing Positive Fertility Support Measures, involving the withdrawal and renting of provident fund, increasing the amount of provident fund to support the first suite of families with many children, implementing differentiated housing purchase policies, and making full use of provident fund to support the national three-child policy.
The most traditional policies of provident fund to stabilize the property market are to reduce down payment, lower the interest rate of the second set of loans and increase the amount, relax the restrictions on loans in different places, and carry out portfolio loan business, to the family mutual aid policy of "one person buying a house and helping the whole family". The opening of provident fund to the same city fully shows that there are quite a few contents that can be implemented and innovated to stabilize the property market.
In recent years, the urbanization of provident fund is in full swing. Promoting the cooperation of provident fund in different places, realizing mutual recognition and mutual loan, and improving the convenience of using provident fund in different places can effectively improve the use level of provident fund in cities with low loan ratio. Up to now, Xi has signed cooperation agreements with Weinan, Wuhan and Xianning, Chengdu and Panzhihua to realize integrated operation. Zhengzhou Housing Provident Fund Management Center recently issued the Notice on Matters Related to the Integrated and Coordinated Development of Housing Provident Fund in "1+8 Zhengzhou Metropolitan Area", which clearly helped the economic development of Zhengzhou, Kaifeng, Luoyang, Pingdingshan, Xuchang, Luohe, Xinxiang, Jiaozuo and Jiyuan, and the housing provident fund in the metropolitan area recognized and lent each other.
Through the implementation of provident fund urbanization, the transfer of provident fund between cities will be opened, and the provident fund will be extracted through the superposition of loans from different places to support buyers to buy houses in corresponding cities, effectively breaking the barriers between cities and promoting the development of urban agglomerations or metropolitan areas. Maintaining the property market in the provincial capital and surrounding cities can also drive all localities to attract talents.
Selected national real estate-related policies in August 2022
In August 2022, the policy of "guaranteeing the delivery of houses" was adopted in key cities.
Policies to stimulate housing consumption in key cities in August 2022