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China home prices gain in 7th month in December
By Cherry Cao |
January 4, 2013, Friday
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Online Edition
Online Edition
HOME prices in China extended their rally for the seventh straight month in December with 57 out of 100 key cities seeing higher prices, an industry report said today.
The average price of new residential properties across 100 mainland cities edged up 0.23 percent from that of a month earlier to 9,715 yuan (US$1,542) per square meter, according to China Index Academy's report. That compared with an increase of 0.26 percent in November.
Twenty-six cities registered a gain of more than 1 percent, compared with 17 cities in November. Harbin in Heilongjiang Province led the gainers with a 3.68 percent rise. Forty-three cities, meanwhile, reported price drops, with 21 seeing a fall of more than 1 percent, compared with 10 in November, the academy said.
"Strong sentiment among end-users fuelled the continuous rally in price while robust demand for mid- to low-end houses led to a decelerating pace in average price growth," said Sky Xue, an analyst with China Real Estate Information Corp. "The country's housing market has been picking up its strength at a faster pace indeed but in general, it's not overheated yet."
The average price for a new home in the country's 10 largest cities advanced 0.45 percent from November to 16,157 yuan per square meter. That compared with a gain of 0.39 percent recorded a month earlier. Year on year, it rose 1.06 percent, accelerating from a 0.15 percent increase in November, according to the academy.
Transactions of new residential properties, excluding government-subsidized affordable housing, exceeded 1.2 million square meters in Shanghai in December, the highest monthly volume registered in two years, Shanghai Uwin Real Estate Information Services Co said in a separate report. That represented a monthly rise of 23 percent and a yearly surge of 109 percent.
The new homes were sold for an average 21,943 yuan per square meter across the city, a month-on-month increase of 0.77 percent and a year-on-year decrease of 1.06 percent, Uwin data showed.
"Though the monthly volume hit a 24-month high, the minor growth in average price indicated that first-time buyers with rather tight budget continued to be the mainstream buyers," said Huang Zhijian, chief analyst at Uwin. "I don't expect any new tightening policies to be rolled out any time soon despite the notable rebound in sales as all rein-in measures were aimed to curb speculation."
The average price of new residential properties across 100 mainland cities edged up 0.23 percent from that of a month earlier to 9,715 yuan (US$1,542) per square meter, according to China Index Academy's report. That compared with an increase of 0.26 percent in November.
Twenty-six cities registered a gain of more than 1 percent, compared with 17 cities in November. Harbin in Heilongjiang Province led the gainers with a 3.68 percent rise. Forty-three cities, meanwhile, reported price drops, with 21 seeing a fall of more than 1 percent, compared with 10 in November, the academy said.
"Strong sentiment among end-users fuelled the continuous rally in price while robust demand for mid- to low-end houses led to a decelerating pace in average price growth," said Sky Xue, an analyst with China Real Estate Information Corp. "The country's housing market has been picking up its strength at a faster pace indeed but in general, it's not overheated yet."
The average price for a new home in the country's 10 largest cities advanced 0.45 percent from November to 16,157 yuan per square meter. That compared with a gain of 0.39 percent recorded a month earlier. Year on year, it rose 1.06 percent, accelerating from a 0.15 percent increase in November, according to the academy.
Transactions of new residential properties, excluding government-subsidized affordable housing, exceeded 1.2 million square meters in Shanghai in December, the highest monthly volume registered in two years, Shanghai Uwin Real Estate Information Services Co said in a separate report. That represented a monthly rise of 23 percent and a yearly surge of 109 percent.
The new homes were sold for an average 21,943 yuan per square meter across the city, a month-on-month increase of 0.77 percent and a year-on-year decrease of 1.06 percent, Uwin data showed.
"Though the monthly volume hit a 24-month high, the minor growth in average price indicated that first-time buyers with rather tight budget continued to be the mainstream buyers," said Huang Zhijian, chief analyst at Uwin. "I don't expect any new tightening policies to be rolled out any time soon despite the notable rebound in sales as all rein-in measures were aimed to curb speculation."
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