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More cities register home price rise in August
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MORE Chinese cities registered home price increases in August compared to a month earlier but overall pace of growth recorded in major cities began to moderate, according to data released today by the National Bureau of Statistics.
Nationwide, 35 cities registered month-over-month rise in new home prices, an increase of four from July, said the bureau, which tracks home prices in 70 cities. Nine cities saw prices flat from a month ago while the rest 26 cities suffered price decreases.
Shenzhen in Guangdong Province continued to lead all with a month-on-month growth of 5.2 percent. It was followed by Shanghai's 1.6 percent gain, Beijing's 1.3 percent increase, Nanjing's 1.2 percent rise and Guangzhou's 0.9 percent growth, according to the bureau's data.
"Despite an increase in the number of cities where home prices have risen month on month, the country's four first-tier cities -- Beijing, Shanghai, Guangzhou and Shenzhen -- all saw decelerated price growth last month, leading therefore a slight slowdown in overall pace of growth for the 70 cities," said Liu Jianwei, a senior statistician of the bureau. "Notably, new home prices in 70 cities rose an average 1.7 percent in August from same time a year earlier, the first year-on-year rise registered since September 2014."
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