National Housing Market Sentiment Turns to 'Rising Phase' After 1 Year and 3 Months

Korea Research Institute for Human Settlements, 'Real Estate Market Consumer Sentiment Survey'

Thanks to the recovery of the housing market in the metropolitan area, the nationwide housing sales market consumer sentiment index turned to an upward trend in July. This is the first time in 1 year and 3 months since April last year that the index has shifted to an upward phase.

Photo by Jinhyung Kang aymsdream@

According to the 'Real Estate Market Consumer Sentiment Survey' announced by the Korea Research Institute for Human Settlements on the 16th, the nationwide housing sales market consumer sentiment index in July was 117.0, up 2.9 points from the previous month. The index has been rising for seven consecutive months since January this year (91.5), shifting from a stable to an upward phase.

The Korea Research Institute for Human Settlements' consumer sentiment index quantifies changes in consumer behavior and awareness levels through surveys of real estate agencies and general households, scoring from 0 to 200. An index below 95 indicates a downward phase, 95 to less than 115 indicates a stable phase, and 115 or above indicates an upward phase.

In the metropolitan area, the index improved from 115.8 last month to 121.0, and Seoul, which was 119.9, rose to 123.7. Gyeonggi Province shifted from a stable phase to an upward phase, increasing from 114.9 to 121.0. During the same period, Incheon remained in a stable phase but the index rose from 109.0 to 113.6.

In the provinces, Sejong had the highest sales sentiment index, rising from 126.6 to 127.2. Gangwon (115.4→123.2), Daejeon (114.5→118.7), and Ulsan (117.4→117.7) were also in an upward phase.

On the other hand, Daegu (109.5→105.5), Gwangju (110.8→109.9), Chungbuk (120.8→114.2), Chungnam (112.9→112.0), Jeonbuk (115.7→112.5), Gyeongbuk (116.3→109.4), and Gyeongnam (114.0→112.5) recorded lower figures than the previous month.

The nationwide housing jeonse market consumer sentiment index rose 3.0 points from the previous month to 95.4 last month, showing an upward trend for seven consecutive months. It shifted from a downward to a stable phase for the first time in 1 year and 1 month since June last year (98.2).

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