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Home prices continue to rise in September

By Cherry Cao | October 23, 2015, Friday | Online Edition

NEW home prices in China continued to rise in September despite a slower pace, according to latest official data.

Prices climbed in 39 cities, four more than in August, said the National Bureau of Statistics, which monitors housing prices in 70 cities. Ten saw prices unchanged, while prices fell in the other 21.

Again, Shenzhen in southern China's Guangdong Province led the gainers with a month-over-month increase of 4 percent, decelerating form August's 5.2 percent growth. It was followed by rises of 1.9 percent in Shanghai, 1.4 percent in Guangzhou and 1.1 percent in Beijing. The three cities registered monthly growth of 1.6 percent, 0.9 percent and 1.3 percent, respectively, in August.

"Across the country, prices of new and existing homes both recorded a slower growth in September from a month earlier, down by 0.1 and 0.2 percentage points on average from August, respectively," said Liu Jianwei, a senior bureau statistician. "City by city, first-tier ones continued to gain at a slower pace, while most of the second-tier cities saw only moderate or no growth while a limited number of third-tier ones finally started to register gains compared to earlier losses."

On a year-on-year basis, prices of new and previously-owned houses advanced at a faster pace last month -- up 1.9 percentage points and 1.7 percentage points, respectively, from August -- with the number of cities seeing price growth continuing to head north, the bureau's data showed.

Nationwide, 12 cities recorded year-over-year growth in new home prices, an increase of three from August. Notably, Shenzhen led with an annual surge of 38.3 percent, followed by increases of 9.7 percent in Shanghai, 5.9 percent in Beijing and 4.9 percent in Guangzhou.

In the existing home market, meanwhile, 15 cities saw price growth from a year earlier, an increase of eight from August.

A report released earlier this week by the bureau also suggest continuously robust momentum in the market.

New home sales in the first three quarters of this year jumped 18.2 percent year on year to 4.79 trillion yuan (US$753 billion), though decelerating from a 18.7 percent growth in the year through August.

By volume, they climbed 8.2 percent year on year to 732 million square meters during the nine-month period, slightly up from an 8 percent gain in the first eight months.

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