Why are second-hand houses priced but not in demand? Why is it that second-hand houses in Wuhan are not selling well?

The house has not been sold for a long time. One reason may be related to the market environment. Another reason is closely related to the price. If you are really in a hurry to sell it, it is recommended to adjust the price appropriately. Now the price of second-hand houses in Wuhan is basically the same as that of new houses, so it is normal that it is difficult to sell. But there is no need to rush, there will always be people who will come. If you are just speculating in houses, you can wait and see after the Military World Games. Maybe the price will rise during the holidays.

Why are second-hand houses now priced but not in demand?

Under the national purchase restriction policy of "housing for living, not for speculation", a large number of real estate investors and even some people with real needs have been excluded. However, those who really have real needs have basically bought in after the market digested them in the early stage. Now there are not many "standard" buyers in the market, so it is not surprising that there is no demand for the house even though the price is high. This is the first reason.

Second, sellers still have high expectations for housing prices. Take Zhengzhou as an example. After the frenzy of 2017 and 2018, it has gradually returned to rationality, but sellers' psychological prices are still influenced by the high prices of the previous two years. Sellers hope that prices can go back up, while buyers hope that prices can continue to fall. As long as one of the two parties is firm in his or her opinion, it will be difficult to reach a deal.

Third, the market is upgrading. The main buyers in most cities have already transitioned to just renovating or purely upgrading. However, most second-hand houses are relatively outdated in terms of house design and community environment, and do not meet the housing needs of those who want to upgrade their homes.

Finally, there are economic factors. Simply put, there is no money. Second-hand houses are more likely to be sold for pure demand, which is why small-sized apartments are more popular in the second-hand housing market. Most of the wealthy people who have just bought have already bought. The rest either have no money or expect the housing prices to fall further.

Why is it difficult to sell second-hand houses in Wuhan?

In fact, this does not exist. Currently, second-hand houses in many areas of Wuhan are more expensive than new houses. There is a price inversion. In Nanhu, where the inversion is the most serious, second-hand houses are about 4,000 yuan more expensive than new houses.

Because the key plots of land in the main urban area have been sold out, and the supporting facilities are mature, but there is no supply of new houses, so people can only buy second-hand houses. Therefore, the owners of houses in the main urban area have no worries about selling their houses. I will sell them at a high price and you can buy them or not. If you don’t want to sell them, I can rent them out. The most important thing is that they are not short of money. They are not in a hurry to sell, so why must they lower the price?

As for the community where I live in the far city, the price of new houses is also about 1,000 yuan cheaper than second-hand houses. Adding taxes and agency fees, second-hand houses are about 2,000 yuan more expensive than new houses on average. However, there are a few houses that are in a hurry to sell. As long as the price is the same as that of new houses, they are basically sold within three days even if more taxes are added. Therefore, there is no house that cannot be sold. As long as the landlord is really in a hurry to sell and can get the price to be the same as that of a new house, who would not want to buy a ready-made house?

Of course, I am talking about second-hand houses that are not too old. If the house is more than 10 or 20 years old, it will definitely not be that easy to sell. Compared with new houses, the comfort level is much lower. When the market conditions are general, it can only be sold by lowering the price, and it needs to be lower than the new houses in the same area. But the same thing applies: no matter how much the price is reduced, it is still more expensive than the house 10 years ago, and the landlord still makes money. It just depends on whether the landlord is short of money or is in a hurry to sell. As long as the price is lowered, there will be no unsold house. The price is frozen because the landlord is not in a hurry to sell. On the contrary, those who don’t have a house are waiting for the price to be lowered every day.

Is it possible to buy a house in Wuhan with a monthly salary of 7,000 yuan?

With a monthly salary of 7,000 yuan, it is possible to buy a house in Wuhan. At least you can afford the monthly mortgage payments. You should know that many people born in the 1990s can buy houses with monthly mortgage payments of around 5,000 yuan.

1. Our total price is about 1.3 million yuan, and we need a 30% down payment of 300,000 yuan, and a loan of 1 million yuan. If it is an unfinished house, the monthly payment will be around 5,000 yuan. If it is a fully furnished house, the monthly payment for the first ten years will be around 7,000 yuan, which is quite stressful.

2. Where are the new houses with a total price of about 1.3 million and an average price of 13,000 yuan per square meter distributed in Wuhan? In the main urban area, there are Baishazhou Qingling in Hongshan District with an average price of about 13,500 yuan per square meter; some real estate projects in Jiangxia in the remote urban area are about 13,000 yuan or less; in Huashan District, for example, Liantou Huashan County has an average price of 11,500 yuan per square meter for rough housing; in Hanyang Third Ring Road, the average price of rough housing is about 14,000 yuan per square meter; and some real estate projects in Caidian and Economic Development Zone; some real estate projects in Hankou Panlongcheng and Songjiagang have an average price of about 12,000 yuan per square meter.

3. The main problem is the down payment. If you have a down payment of ≥ 300,000 yuan, a monthly salary of 7,000 yuan, and can repay the monthly installments, it is basically possible. It will be easier if you have family members to help repay the loan or make up the down payment.