The Zhitong Finance App learned that the China Index Research Institute published an article stating that from January to August 2026, the total number of new lots sold in 355 cities across the country was 499,253, an increase of 30.67% over the same period in 2025 (382,082). A total of 611,260 lots were sold, of which 143,854 were sold, with a clearance rate of 23.53% (that is, about 24 for every 100 closed lots); 426,641 live lots, with a flow rate of 69.80%. The cumulative transaction amount was 201,625 billion yuan, an increase of 17.47% over the previous year; the average transaction price was 4,960 yuan/㎡, the average assessed price was 6,339 yuan/㎡, and the average transaction discount rate was 74.07% (about 7.4 percent off).
Monthly trends
In 2026, the monthly supply in the French auction market was characterized by “high fluctuations”, and the monthly clearance rate (traded lots/closed lots) remained in the 12%-18% range. In August, 70,987 new lots were added, 134,362 lots were closed, and 20,774 items were sold, with a monthly clearance rate of 15.46%; February had the lowest clearance rate (12.24%) and the highest in March (17.93%) due to the Spring Festival.
Note: Clearance rate = sold lots/closed lots; newly released lots are bid for the first time in the same month, and there is no direct denominator relationship with the clearance rate.
Property type structure
In terms of property types, housing is the absolute main force in the French auction market. A total of 236,431 new residential products were added across the country, with 280,289 transactions closed, and 104,111 units sold. The clearance rate was 37.14% (the highest of all types), and the transaction amount was 113.44 billion yuan, accounting for 56.26% of the total transaction amount. Although the garage/parking space is large-scale (133,708 units), the clearance rate is only 8.93%, and the pressure to remove is the heaviest.
Note: Clearance rate = sold lots/closed lots (cumulative caliber).
Operation of the French auction market in Zhejiang Province
2.1 Overall situation of full force shooting in Zhejiang
From January to August 2026, Zhejiang Province sold a total of 26,701 new lots (+46.07%); 33,135 lots closed (+57.86%), of which 17,100 lots were sold (+56.97%), with a clearance rate of 51.61% — about 2.2 times the same period in the country (23.53%). The transaction amount was 25.781 billion yuan (+17.42% YoY), the average transaction price was 6,220 yuan/㎡, the average assessed price was 8,093 yuan/㎡, and the average discount rate was 75.34%. Compared with the whole country, Zhejiang is significantly ahead in clearance rate and transaction rate, and the activity and carrying capacity of the French auction market is outstanding.
2.2 Composition of Zhejiang Fapao property types
In terms of property types, housing is the core of the Zhejiang French auction market. A total of 17,302 new residential units were added, 20,456 were closed, and 13,836 were sold. The clearance rate was 67.64%, and the transaction amount was 17.52 billion yuan, accounting for 66.14% of the province's turnover. Commercial transactions amounted to RMB 4.780 billion (accounting for 18.54%) and industrial transactions amounted to RMB 3.602 billion (accounting for 13.97%).
Note: Clearance rate = sold lots/closed lots (cumulative caliber).
2.3 Monthly trend of Zhejiang French auction
The monthly supply in the Zhejiang French auction market showed an “fluctuating upward” trend. In August, 3,980 new lots were added (+40.84% year over year), 6,386 lots closed, and 2,290 items were sold, with a monthly clearance rate of 35.86%; the transaction amount of 3.802 billion yuan was also the highest in a single month in January-August. The monthly clearance rate in the first half of the year remained in the high range of 31%-38% for most months, and the overall market removal efficiency was superior to that of the whole country.
Note: Clearance rate = sold lots/closed lots (monthly caliber).
2.4 Zhejiang cities lawfully bid on the housing market
From an urban perspective, the Zhejiang Fapao housing market presents a “polarized” pattern. In order of transaction value, Hangzhou led with 5,088 billion yuan, with an average transaction price of 17,879 yuan/㎡, the highest in the province (average assessed price of 23,643 yuan/㎡), reflecting the leading value of residential assets in the core area of Hangzhou. Ningbo (2.39 billion yuan) and Wenzhou (2,099 billion yuan) ranked second and third.
Note: Clearance rate = sold lots/closed lots (cumulative size of residences in each city).
Note: The transaction amount in this table is the residential transaction amount for each city, which is different from the full scale of 2.1.
Judging from the elimination performance, Ningbo ranked first in the province with a clearance rate of 80.94%, followed by Wenzhou (73.17%), Jiaxing (72.27%), and Taizhou (71.60%), all of which are regions with strong market carrying capacity; while Huzhou (40.21%) and Quzhou (43.08%) have clearly low clearance rates, there is pressure to eliminate domestic assets.
2.5 Key indicators of the housing market in Zhejiang Province
From January to August 2026, a total of 17,302 new residential buildings were sold in Zhejiang Province (+55.76%); 20,456 lots closed; 13,836 (YoY +67.49%), clearance rate 67.64%; transaction amount was 17.52 billion yuan (+41.77% YoY), with an average transaction price of 8,739 yuan/㎡ (average assessed price of 11,382 yuan/㎡), with an average discount rate of 76.28%. The average number of visitors to a house sold was 5,309 people per piece, 5.10 registrants per piece, and 4.17 people bid per unit. Market attention and participation remained high.
Comparison between Zhejiang and the national French auction market
3.1 Horizontal comparison of core indicators
3.2 Interpretation of key differences
Compared with the rest of the country, the French auction market in Zhejiang Province showed significant competitive advantages:
The clearance rate is more than double that of the country: Zhejiang's clearance rate is 51.61%, and the country's clearance rate is only 23.53%. The gap is 28.08 percentage points, that is, the transaction ratio of Zhejiang's closing target is much higher than that of the whole country.
The streaming rate is significantly lower: Zhejiang's streaming rate is 45.56%, far lower than the national 69.80%, and the market carrying capacity is stronger.
The average transaction price is higher: The average transaction price in Zhejiang is 6,220 yuan/㎡, which is 25.40% higher than the national price level, which matches the overall housing price level in Zhejiang.
The transaction cycle is shorter: the average transaction time in Zhejiang is 32 days, and the national transaction time is 48 days, leading in removal efficiency.
Higher level of attention: The average number of spectators, registrations, and bidders in Zhejiang is higher than that of the whole country, and market participation is more enthusiastic.
Conclusions and prospects
4.1 Key findings
Both supply and demand for French auctions have expanded, and the scale continues to rise, yet the clearance rate is low, and about 70% of sales are closed, so the pressure to remove them is prominent. The residential sector is still the main investment force, and the share of the commercial sector has increased.
Zhejiang leads the country in the growth rate of French auctions. The clearance rate is about 2.2 times that of the country, and market vitality and asset value remain leading. Housing dominates absolutely, with Hangzhou, Ningbo, and Wenzhou as the core contributing cities.
Regional differentiation is obvious: the clearance rate in Ningbo and Wenzhou within Zhejiang exceeds 73%, while Huzhou and Quzhou are less than 45%. Investment and disposal strategies need to be adapted to local conditions.
The value depression is evident: The average discount rate for residential housing in Zhejiang is about 76 percent off, and the country as a whole is about 7 percent off. The discount space provides investors with a margin of safety.
4.2 Future market outlook
Looking ahead to the future market, the supply-side expansion trend of the French market will continue in the short term due to macroeconomic operations and continued easing of real estate policies. As an economically strong province, Zhejiang is expected to maintain a high level of activity in the French auction market. In particular, the residential clearance rate and return on investment expectations are relatively stable. It is recommended to focus on: first, asset value restoration in core cities such as Hangzhou and Ningbo; second, asset value restoration in regions with high discount rates in Wenzhou (86.83%); and third, asset sell-off and discount opportunities that may occur in regions with low clearance rates such as Huzhou and Quzhou.