实用英语:楼市降价风愈刮愈烈 调控依旧

楼价大幅下滑，各地楼盘降价的消息不断出现，造成住户“抗议”不断……面对号称史上最严厉的调控政策，房价“hold不住”了。记者对上市房企三季度的业绩进行梳理，在销售量普遍下滑的形势下，迫于近期销售压力，部分龙头房企开打价格战。

上市房企三季度存量再增

前三季度过后，调控的影响开始大面积体现到上市公司的财务报表中，上市房企存货高企。截至10月末，沪深两市交易所公布的131家上市房企三季报中，在营业收入和净利润两项核心指标上，前三季度同比增速放缓，第三季度环比大幅下降，其中净利润下降近三成。

从明细来看，前三季度131家A股上市房企合计实现营业收入2092亿元，同比增长14.4%;合计实现净利润263.8亿元，同比增长14.31%。同时，131家A股上市房企第三季度合计实现营业收入699.58亿元，环比下降8.15%;合计实现净利润73.19亿元，环比下降29.36%。其中，净利润环比下降的公司共77家，占比达58.7%。万科、招商地产、金地集团等一线房企三季度业绩均出现不同程度下滑。

从存货指标来看，131家房企三季度末存货达9838亿元，较去年同期的6788亿元大增44.93%;同时，131家房企今年6月底存货为8759亿元，第三季度环比增幅达12.31%。积压迹象明显。

其中，库存最高的前几名房企分别为：万科、金地、招商、首开、滨江集团。这几家房企的库存总额高达4540.7亿元，总量同比增幅高达46.87%，快于行业整体水平。

值得注意的是，虽然存货合计仍在持续增长，但存货周转率指标显示，今年第三季度房地产公司显然已开始加大促销力度，大部分房企的三季度存货周转率比上半年有了增长，平均存货周转率从今年上半年的0.5697%，上升至今年三季度的0.7367%;而去年三季度上市房企的存货周转率平均值仅有0.52%。分析人士认为，随着年末回款压力的增大，预计在四季度房地产公司的存货周转率会进一步提升。

调控不可回头

自2009年12月以来，房地产调控政策可谓是一浪高过一浪，但眼下，在各地降价潮和放松限购令的呼声下，调控政策似乎将慢慢转向风平浪静。

10月27日，在十一届全国人大常委会第二十三次会议上，对于全国人大常委会财经委员会副主任委员吴晓灵的一番“目前限购政策太严厉”的说法，住房和城乡建设部部长姜伟新的解释是，限购是个行政办法，是不得已而采取的办法，并称“在住房信息完善后将不再限购”。这一解释当即被市场推测为房地产调控放松的信号。但随后国务院的表态击退了这一猜想。

10月29日，国务院总理温家宝主持召开了国务院常务会议。会议提出，坚定不移地搞好房地产调控。各地政府要切实负起责任，继续严格执行政策，进一步巩固调控成果。

清华大学中国与世界经济研究中心主任李稻葵近期在2011汇丰财富论坛上则表示，房地产价格的调控不可能走回头路，即使中国经济增长速度再次放缓，也不会对房地产调控政策进行大调整。李稻葵说，中国当前经济格局正在发生变化，过去若干年靠高投资，靠地方政府卖地，靠房地产蓬勃发展的这种比较简单、粗鲁、原始的发展方式已走到尽头，房地产价格不可能再像过去几年那样以每年10%以上的速度上升。流量计

“房地产价格的调控不可能走回头路，不是因为经济问题，增长速度再往下降我也不认为房地产会重新回到过去的形势。已经出台的限购政策我认为不会轻而易举地缩回去，也可能逐步微调，但不可能很快往回走。中国经济靠卖地、靠房地产价格快速上涨这个发展模式已经过去了。”李稻葵说。至于货币政策，李稻葵表示：“相信未来5到10年都不会有重大放松，会比较谨慎。”

Housing enterprises listed three quarter stock is added again

The first three quarters later， affect regulation begins large area to reflect the financial statements of listed companies， listed enterprises high inventory. As of the end of 10， the Shanghai and Shenzhen two city stock exchange announced by the 131 listed enterprises in three quarterly reports， in operating income and net profit of two core indicators， before the three quarter of year-on-year growth rate slowed down， the third quarter net profit fell sharply， which fell nearly three into.

From the list， the first three quarters of 131 A shares listed enterprises together to achieve operating income of 209200000000 yuan， an increase of 14.4%; the total net profit of 26380000000 yuan， grow 14.31% compared to the same period. At the same time， 131 A shares listed enterprises third quarters of total operating income to achieve 69958000000 yuan， annulus comparing drops 8.15%; together to achieve a net profit of 7319000000 yuan， annulus comparing drops 29.36%. Among them， the company net profit fell 77， accounted for 58.7%. Vanke， real estate investment， the group such as first-line enterprises three quarter results showed varying degrees of decline.

From the stock index at the end of the three quarter， 131 of Housing enterprises inventory amounts to 983800000000 yuan， 678800000000 yuan more than the same period last year increased 44.93%; at the same time， the 131 end of year 6 inventory of housing for 875900000000 yuan， third quarter-on-quarter growth of 12.31%. The backlog of obvious signs.

Among them， several of the former housing inventory levels respectively： Vanke， gold， investment， first， the Binjiang group. These a few enterprises inventory total amounts to 454070000000 yuan， a year-on-year increase of high gross amounts to 46.87%， faster than the overall level of the industry.

Notable is， although the total of inventory continues to grow， but the rate of inventory turnover index shows， this year the third quarter real estate company has apparently began to increase sales promotion strength， most of the three quarter of the housing inventory turnover rate than the first half of the growth， the average inventory turnover in the first half of the year 0.5697%， up to the three quarter of this year 0.7367%; and the three quarter of last year the housing enterprises listed in the inventory turnover rate， average only 0.52%. Analytic personage thinks， as the end of the year， the increase of the pressure， is expected in the four quarter real estate company inventory turnover rate will further enhance.

Regulation can not be back

Since 2009 since December， real estate regulation policy is advancing wave upon wave， but now， in various parts of the reduction tide and relaxation is restricted to buy your voice， regulatory policy seems to be slowly turned to be in smooth water.

In October 27th， the eleven meeting of the twenty-third NPC Standing Committee， the National People‘s Congress Standing Committee Finance Committee Vice Chairman Wu Xiaoling a ” current restriction policy too harsh “ view， Minister of housing and Urban-Rural Construction Jiang Weixin explains it， the purchase is an administrative measure， is forced to take measures， and said” in the housing information after perfection will no longer purchase limit“。 This interpretation was immediately market speculation that the real estate regulation relaxation signal. But then the State Council statement to repel this conjecture.

On October 29th， Chinese Premier Wen Jiabao chaired the executive meeting of the state council. The conference puts forward， not to move or retreat to do the real estate regulation. All local governments should take the responsibility， to continue to strictly enforce the policy， further consolidate adjusting control achievement.

Tsinghua University China and world economy research center director Li Daokui recently in the 2011 HSBC wealth forum said， the real estate price regulation can not go back， even if China’s economic growth rate slowed again， nor to control the real estate policy adjustment. Said Li Daokui， China‘s current economic structure is changing， the past few years rely on high investment， rely on local government land sales by vigorous development of real estate， this is relatively simple， rough， primitive way of development has come to an end， the real estate price could no longer as in the past few years to more than 10% of the annual rate of rise.

” Real estate prices regulation could not go back， not because of economic problems， growth rate to drop and I don’t think the real estate will return to the past situation. Have introduced limited purchase policies will not be an easy job to me that sprang back， can also fine-tune， but may soon go back. Chinese economy by selling land， by the rapid rise in real estate prices this development model has passed.“ Li Daokui said. As for monetary policy， Li Daokui said： ”I believe the next 5 to 10 years there will be no significant relaxation， would be more cautious.“