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April 17, 2019

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China’s urban housing market grows at slow pace

PRICES in China’s urban housing markets were mixed last month, official data released yesterday showed.

Prices of both new and pre-occupied homes in all-tiered cities in China rose at a mild pace from a month earlier, as policies to either cool speculation or promote the healthy development of the industry remained consistent, according to the National Bureau of Statistics, which monitors home prices in 70 major cities.

New home prices in the four first-tier cities climbed an average of 0.2 percent, easing from 0.3 percent growth in February. Prices gained 0.4 percent and 0.8 percent in Beijing and Guangzhou, and lost 0.1 percent and 0.3 percent, respectively, in Shanghai and Shenzhen.

In the existing housing market, prices in the four cities edged up 0.3 percent month on month, compared with a 0.1 percent increase in February. They were up 0.4 percent, 0.3 percent and 0.7 percent in Beijing, Shanghai and Shenzhen, and shed 0.5 percent in Guangzhou, the bureau said.

In 31 second-tier cities, new home prices rose an average of 0.6 percent last month, compared with 0.7 percent in February. Prices of existing homes jumped 1.2 percent, compared with a 0.2 percent slip in February.

New home prices in 35 third-tier cities advanced 0.7 percent on average last month, accelerating from 0.4 percent growth in February. In the pre-occupied housing market, prices gained by an average of 0.5 percent, compared with a 0.2 percent rise in February.

New home prices in Dandong, in northeastern Liaoning Province, registered the biggest month-on-month increase of 1.9 percent.

On a year-on-year basis, prices of new homes in all-tiered cities also increased in March. They climbed 4.2 percent, 12.2 percent and 11.4 percent, respectively, in first-, second- and third-tier cities. In the pre-occupied residential market, they climbed 0.5 percent, 8.2 percent and 8.4 percent from the same period a year ago.


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