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Housing prices continue to grow across the country
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HOME price in China continued to rise at a faster pace in March, the China Index Academy said in a report released today.
The mean cost of a home climbed 1.9 percent to 11,303 yuan (US$1,745) per square meter from a month earlier, after rising 0.6 percent in February and 0.42 percent in January, said the academy, which monitored market activity in 100 cities across the country.
Nationwide, prices increased in 60 cities, fell in 38 cities and were unchanged in two. Among the gainers, 26 cities registered a month-over-month rise of more than 1 percent, compared to 22 cities in February.
Dongguan in Guangdong Province recorded the largest gain of 6.72 percent, followed by Huizhou and Suzhou. Shanghai, where home prices rose 5.1 percent from a month earlier, ranked the 5th, the academy said.
In the country's 10 largest cities, the average cost of a new home jumped 2.52 percent to 21,368 yuan per square meter, compared with a rise of 0.51 percent in February.
"In general, home prices rose at a notably faster pace both on a month-over-month and year-on-year basis, indicating the arrival of a well anticipated high season for property sales which traditionally comes in March and April," the academy said. "Looking forward, with the introduction of a series of tightening measures in some overheated cities such as Suzhou, Shanghai and Shenzhen, the supply-demand scenario there will somewhat improve and that may help curb rampant price growth in those markets."
On an annual basis, the average price of a new home jumped 7.41 percent in March, accelerating further from a 5.25 percent growth in February.
Across the country, 43 cities registered higher home cost from a year ago with Shenzhen leading all gainers with a year-on-year surge of 57.2 percent, the academy said.
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