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City's pre-owned housing index rises moderately
By Cherry Cao |
December 7, 2012, Friday
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Print Edition
Print Edition
SHANGHAI'S pre-owned housing index rose moderately for the sixth straight month in November.
The index, which monitors price variations of pre-owned homes in the city, added 4 points, or 0.15 percent, from October to 2,595 last month, the Shanghai Existing House Index Office said yesterday.
The index gained 0.12 percent in October and rose 0.15 percent in September.
"The local pre-owned home market picked up significantly last month as demand from end-users recovered notably as the year-end approaches," said Chen Zhen, an analyst at the office.
"However, we have yet to see a major change in home prices despite a double-digit increase in transaction volume."
Across the city, prices rose in 81 of the 130 tracked areas in November by an average 0.32 percent from October. Prices fell in 20 areas by an average 0.34 percent while those in the remaining areas were flat from a month ago, the office said.
The index, which monitors price variations of pre-owned homes in the city, added 4 points, or 0.15 percent, from October to 2,595 last month, the Shanghai Existing House Index Office said yesterday.
The index gained 0.12 percent in October and rose 0.15 percent in September.
"The local pre-owned home market picked up significantly last month as demand from end-users recovered notably as the year-end approaches," said Chen Zhen, an analyst at the office.
"However, we have yet to see a major change in home prices despite a double-digit increase in transaction volume."
Across the city, prices rose in 81 of the 130 tracked areas in November by an average 0.32 percent from October. Prices fell in 20 areas by an average 0.34 percent while those in the remaining areas were flat from a month ago, the office said.
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