By the last week, home prices have risen… This year’s house price increased by 7% and the total price by 7.5%

Input 2020.12.31 14:00

National house prices and jeonse prices continued to rise until the last week of December, indicating that this year’s national house prices rose 7.04% from last year. The jeonse price also rose 7.55%.

According to the Korea Real Estate Agency on the 31st, a survey of the nationwide weekly apartment price trend in the fourth week of December as of the 28th showed that the sale price rose 0.28%. It fell 1 percentage point (p) from last week’s increase rate (0.29%).

The rise in local house prices has slowed somewhat. In the fourth week of December, the rate of increase in local house prices was 0.33%, down 0.04%p from the previous week’s increase rate (0.37%). However, the rate of increase in house prices in Seoul was 0.06%, up 0.01p from Jeonju (0.05%), and the rate of increase in housing prices in metropolitan areas such as Gyeonggi and Incheon was 0.23%, up 0.01%p from Jeonju (0.22%).

An official from the Korea Real Estate Agency said, “In Seoul, housing prices have risen mainly in places where there are good benefits for mid-to-low-priced complexes and maintenance projects, and in regions such as five metropolitan cities, the rise has decreased as the purchase price declined after designation of adjustment targets.”

As the rise continued until the fourth week of December, the nationwide house prices this year rose 7.04% from last year. Sejong was the place where house prices rose the most. This year, the house price rose 42.37%. Daejeon (17.90%), Gyeonggi (11.44%), and Ulsan (11.15%) followed. House prices in Seoul rose 0.86%. With all the nationwide house prices rising, only Jeju house prices fell. This year, Jeju house prices declined 1.17%.

Jeonse prices continued to rise. In the fourth week of December, the nationwide jeonse price rose 0.29%. However, the rise was slightly reduced. During the same period, the jeonse price in Seoul rose 0.13%, showing a decrease of about 0.01p from the previous week (0.14%). The rate of increase in local house prices was also 0.35%, down 0.02%p from the previous week (0.37%).

Nationally, Sejong’s weekly jeonse price increase rate was the highest at 1.81%. Ulsan (0.71%), Daejeon (0.59%), and Busan (0.46%) were followed.

As a result, the rate of increase in national jeonse prices this year was estimated at 7.55%. Sejong City’s jeonse price increase rate reached 61.94%, which is the largest increase. Ulsan (19.69%), Daejeon (15.02%), and Incheon (10.20%) followed. The rates of increase in jeonse prices in Seoul and Gyeonggi Province were 4.48% and 9.47%, respectively. It was found that only Jeju’s jeonse prices fell slightly. It was 0.35% less than last year.