In the week from April 19-25, the transaction volumes in Shenzhen, Beijing, Shanghai and Guangzhou declined 64%, 45%, 38% and 2% respectively week-on-week.
However, transactions in some second and third tier cities continued to surge week-on-week. Some of these cities included Harbin, Haikou, Dalian and Changsha.
Capital Vue reports that, of the 35 cities tracked, most of the cities recorded declines of varying degrees in transaction prices. Bucking the trend was Shenzhen where the transaction price surged 12% week-on-week while the transaction volume declined.