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China sees new home prices rise faster again
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NEW home prices in China rose faster again in November, after slowing for four consecutive months since July, according to official data released yesterday.
Prices climbed in 33 cities last month, six more than in October, the National Bureau of Statistics, which tracks housing prices in 70 cities around the country, said in a statement. Prices in 10 cities were flat while they fell in the remaining 27.
Shenzhen led the gainers in November with a month-on-month rise of 2.9 percent, accelerating from a 1.2 percent gain in October. Next was Shanghai with a 1.9 percent monthly rise, and Nanjing in Jiangsu Province with a 1.4 percent growth. They ranked first and second in October, respectively.
“The number of cities seeing month-on-month rise in prices rose in both new and pre-owned home markets, leading to an overall accelerating pace of 0.2 percentage points and 0.3 percentage points, respectively,” said Liu Jianwei, a senior bureau statistician.
“New and existing home markets in first and second-tier cities all registered faster price growth while in tertiary cities, new home prices stopped declining while prices of pre-owned houses remained flat.”
Year on year, prices of new and pre-owned homes kept rising more quickly last month — up 1.5 percentage points and 1.2 percentage points, respectively, from October’s increases, the bureau’s data suggest.
Nationwide, new home prices last month climbed in 21 cities from a year ago, up five from October. Shenzhen continued to lead with an annual surge of 44.6 percent, followed by a 15.4 percent gain in Shanghai.
In the pre-owned housing market, prices rose in 32 cities in November from a year earlier, up eight from October.
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