Shanghai's housing market is expected to maintain its momentum through the upcoming traditional peak season, supported by active pre-owned home transactions, improving new-home sales and the city's latest property policy adjustments, industry experts said.

Despite August being a traditional low season for the housing market, Shanghai recorded 23,137 second-hand home transactions during the month, up 16 percent year-on-year, according to the official website of the Shanghai Real Estate Trading Center.

Market activity also picked up over the past weekend, with daily transactions exceeding 1,000 units.

August marked the sixth consecutive month since March in which Shanghai's monthly pre-owned home transactions exceeded 23,000 units, thePaper.cn reported, citing data from Anjuke.

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Yan Yuejin, deputy head of the Shanghai-based E-House China R&D Institute, said the recovery in transactions began in the fourth quarter of last year and continued through July and August.

"The stable market performance indicates that the overall market is improving," Yan said.

"Monthly transactions, which stayed above 20,000 units even during the off-peak season, have provided stronger support for the housing market in the coming months. With the latest package of measures, the pre-owned market in Shanghai is well positioned for a significant year-on-year improvement in September and October," said Zhang Bo, head of the Beijing-based 58 Anjuke Institute.

The policy measures introduced on Aug 20 amid a widening gap between pre-owned and new homes have also helped stimulate transactions of newly built homes over the past two weeks, said Lu Wenxi, an analyst at Centaline Shanghai.

Since the latest policy adjustments took effect, transaction volume for newly built apartments between the city's Outer Ring Road and its outskirts has increased 5.5 percent from July, Lu said, adding: "At the same time, we have seen more diversified new-home supply since last week. The local housing market is heading into the traditional peak season, known as 'gold September and silver October' in Chinese, with the strong performance of the pre-owned market expected to continue and new-home transactions on track to improve."

In contrast to the active pre-owned market, new-home transactions remained at a relatively low level in August, with 400,000 square meters, or 3,168 units, changing hands, said Cheng Yu, executive vice-general manager of Shanghai enterprises at China Index Academy.

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In the first eight months, 3.26 million sq m of commercial housing, or 25,800 units, were sold, Cheng said.

"The eight-item policy package rolled out in August was tailored to local market conditions by facilitating the circulation of homes, particularly targeting suburban inventories for buyers with basic housing needs and those seeking to improve their living conditions," Cheng said.

As the traditional peak season approaches, Shanghai's housing market is expected to see a rebound in transactions.

"Together with supportive policies from the central government, the market is expected to maintain a stable performance," Cheng added.

Contact the writers at wang_ying@chinadaily.com.cn