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China housing prices post first rise in 10 months

By Cherry Cao | May 18, 2015, Monday | Online Edition

HOUSING prices in China rose for the first time in 10 months in April with mixed performances continuously registered across the country, a latest national survey showed.

Increases in new home price were recorded in 18 cities last month, compared to 12 in March. Prices remained unchanged in four and dropped in the rest 48, compared to eight and 50 in March, the National Bureau of Statistics, which monitors home prices in 70 major cities, said on its website today.

In the existing home market, meanwhile, 28 cities recorded price increases from a month earlier, compared to 12 in March, the bureau said. Eight cities saw their prices flat while another 34 suffered setbacks, compared to 10 and 48, respectively, registered in the previous month, the bureau's data showed.

"Nationwide, prices of new homes climbed an average 0.3 percent in April as buying momentum continued to rebound amid a couple of reasons including loosening mortgage policies as well as a high-season impact," said Liu Jianwei, a senior statistician at the bureau. "However, price increases were mainly confined to first-tier and a limited number of second-tier cities whereas the rest ones still suffered declines."

Shenzhen continued to lead gainers among the country's four first-tier cities with a month-over-month increase of 1.8 percent, followed by Beijing, Shanghai and Guangzhou, where new home prices climbed 0.8 percent, 0.7 percent and 0.4 percent, respectively, from March.

In the existing market, Shenzhen was also the top gainer with a monthly increase of 2.4 percent. In Beijing, Guangzhou and Shanghai, prices rose 2.1 percent, 1 percent and 0.6 percent, respectively.

On an annual basis, prices dropped in all cities except Shenzhen, where a 0.7-percent annual rise was recorded for new homes and a 2.8 percent gain for existing houses, the bureau said.

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