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February 2nd - The 2026 Spring Festival travel rush has officially begun. According to China Railway Shenyang Group Co., Ltd., the company expects to transport 24 million passengers during the Spring Festival travel rush, averaging 600,000 passengers per day, a 3.7% increase compared to the 2025 Spring Festival travel rush.The South African government announced that retail petrol prices will be reduced by 65 cents per liter in February.S&P: Indias general government fiscal deficit is likely to gradually decrease from 7.3% of GDP to 6.6% of GDP by fiscal year 2026.On February 2nd, Wang Li of Great Wall Fund stated that the disclosure of 2025 performance by A-share listed companies has entered a peak period. The fourth quarter of 2025 is characterized by a rising central point for new economic growth and a broadening of positive indicators: economic transformation will accelerate in the fourth quarter. Although the divergence between the old and new economies will continue, the central point for new economic growth will shift significantly upward, spreading from AI to more sectors such as overseas expansion, resource products, and service consumption. AI and overseas expansion will continue to drive the rise in the central point of emerging technology growth, while most pro-cyclical sectors will benefit from price increases due to supply constraints and downstream demand transformation. Attention can be paid to low-crowding, lagging sectors such as electronics, overseas manufacturing, and insurance, where profit expectations have been revised upward. Current trading regulations have significantly suppressed short-term speculative sentiment, and subsequent ETF redemptions are expected to narrow, potentially leading to market stability. External disturbances are likely to bring downward pressure on previously popular sectors, thereby putting downward pressure on the index.February 2nd - On February 2nd, China Construction Bank (CCB) signed agreements to support the first batch of acquisitions of second-hand homes in Shanghai for use in affordable rental housing projects. This marks the substantial launch of Shanghais efforts to acquire second-hand homes for affordable rental housing. At the signing ceremony, relevant branches of CCB Shanghai Branch signed cooperation agreements with public rental housing companies in the three pilot districts of Pudong New Area, Jingan District, and Xuhui District, providing financial support for the acquisition work. It is understood that Pudong New Area prioritizes second-hand homes within the inner ring road, built before 2000, with a single unit area of less than 70 square meters and a total price not exceeding 4 million yuan, featuring clear property rights. Jingan District focuses on moderately priced, clearly defined small-unit second-hand homes, adopting a strategy of primarily area-based rental collection supplemented by scattered acquisitions. Xuhui District is exploring the acquisition of existing small-unit homes through the districts affordable housing company, renovating and configuring them according to relevant standards before supplying them as affordable rental housing.

High Mortgage Rates Force First-time Buyers to Rent, According to Rightmove

Aria Thomas

Nov 25, 2022 14:27

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The property website Rightmove (OTC:RTMVY) said on Friday that the demand for rental homes in the United Kingdom surged in October as prospective first-time buyers postponed their purchases owing to rising mortgage rates.


However, the total number of renters and purchasers on the market declined by 1% compared to the same period previous year.


In recent months, mortgage rates in the United Kingdom have risen beyond 6%, increasing after the "mini-budget" of former prime minister Liz Truss on September 23 rattled financial markets.


Since then, rates have fallen due to Jeremy Hunt's Autumn Statement, which guaranteed stamp duty reductions through March 31, 2025.


According to Britain's largest property marketplace, first-time buyers have been significantly impacted by the hike, prompting them to consider renting in the near future while they await the inevitable stability of mortgage rates.


Tim Bannister, a property expert at Rightmove, commented, "It is very understandable why some buyers, especially first-time buyers, are waiting for better financial stability."


Now that there are indicators that mortgage rates are stabilizing, it is probable that they will settle at a higher level than buyers in the past have experienced.


42% of prospective first-time buyers who intend to enter the property market over the next several years have already amassed their entire down payment while awaiting a reduction in interest rates. 43% more were engaged in savings.


Tenants are already facing a large increase in expenses owing to the rising costs of electricity, fuel, food, and council tax, which are reflected in the statistics.


As a result of the highest rate of inflation in 41 years, real wages are decreasing, placing incomes under the most severe pressure in decades.

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