Inventory continues to reduce the first-tier city property market or further heat up.

China Coatings Network
: "
real estate market differentiation is still continuing, first-tier cities still maintain a situation of oversupply." Data released by Shanghai Yi-residential Real Estate Research Institute on the 17th showed that in August 2015, the new supply area of new commercial housing in first-tier cities was 2.76 million square meters, a decrease of 23.9% month-on-month, a decrease of 15.7% year-on-year; In August 2015, the area of new commercial residential transactions in the four cities of North Guangzhou and Shenzhen was 102, 103, 80 and 570,000 square meters, respectively, with month-on-month growth rates of -11.3%, -8.9%, -7.0% and -12.3%, respectively, up 5.8%, 57.5%, 48.9% and 105.2%. The volume of new commercial residential transactions in the four first-tier cities fell month-on-month in August, rising year-on-year. In terms of transaction prices, there was a small decline. In August, the average price of new commercial residential transactions in first-tier cities fell to 26,971 yuan per square meter, down 3.6% month-on-month and up 24.3% year-on-year, the first decline since March. Yao La, a researcher at Shanghai Yi Residential Real Estate Research Institute, pointed out that the decline in transaction prices in first-tier cities in August was mainly due to the transaction structure. "Since the second quarter, the first-tier cities have been positively released the demand for improvement, a large number of high-end property transactions so that the first-tier property price growth too fast. Entering August, villas and other high-end property turnover decreased, just need to release volume led to a fall in transaction prices. "In terms of inventory, the ratio of new commercial residential deposits to sales fell in August. In the same month, the inventory of new commercial housing in first-tier cities was 34.6 million square meters, down 1.9% month-on-month and 0.7% year-on-year. According to easy-to-live estimates, the first-tier cities in August new commercial residential storage and sales ratio of 9.9 months, compared with July 11.2 months of the value of the decline, the deposit-to-sale ratio is expected to continue to decline in the coming months. Yao La analysis, with the central bank announced on August 25 to cut interest rates, mortgage interest rates fell to an all-time low, continued for many years of "out-of-the-way order" loose, and in September Beijing took the lead in the provident fund to buy a second home down payment ratio of 20 percent, a series of good policies continue to stimulate demand release, but also for the traditional "Golden Nine Silver Ten" to add momentum, the first-tier property market or will heat up again.