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Official data: Housing sector hot in March

By Cherry Cao | April 18, 2016, Monday | Online Edition

HOME prices rose at a faster pace in more Chinese cities in March, with notably divided performances remaining unchanged among different tiered cities, according to the National Bureau of Statistics today.

Prices of new homes, excluding government-subsidized affordable housing, climbed in 62 Chinese cities last month, an increase of 15 from February, and fell in the remaining 8, according to the bureau, which tracks prices in 70 cities.

Xiamen in Fujian Province led the gainers in March with a month-on-month increase of 5.4 percent. It was followed by Hefeim in Anhui Province, where prices advanced 4.6 percent, Shanghai, which registered a month-over-month gain of 4.3 percent, and Shenzhen, where prices rose 3.7 percent.

"The number of cities recording monthly price gains increased notably last month while paces also accelerated with first-tier cities and major second-tier ones continuously leading the gainers," said Liu Jianwei, a senior bureau statistician. "In contrast, the majority of second and third-tier ones registered rather stable performances."

On average, the growth in new home prices in the 70 cities accelerated 0.6 percentage points last month from February while in the pre-owned home market, an overall acceleration of 1.2 percentage points was recorded, according to the bureau data.

Year on year, new home prices climbed in 40 cities in December, compared to 32 in February. Shenzhen continued to lead with an annual surge of 62.5 percent, followed by Shanghai where prices rose 30.5 percent from a year ago.

In the pre-owned housing market, prices rose in 46 cities in March from a year earlier, an increase of five from February.

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