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Existing home index gains for 12 months
By Cherry Cao |
September 2, 2011, Friday
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SHANGHAI'S secondhand housing index edged up in August again but sales of previously-occupied homes remained extremely sluggish.
The index, which monitors price fluctuations of the city's existing homes, gained 1 point, or 0.05 percent, from a month earlier to 2,599, extending its rise for 12 consecutive months, the Shanghai Existing House Index Office said yesterday. The index gained 0.03 percent in July.
"The downtown areas witnessed mixed performances over the past month, with prices in some parts of the city rebounding," said Zhang Shu, an analyst at the index office. "Citywide, the number of areas posting price gains outnumbered those which fell."
The prices of existing homes in prime locations, including four downtown districts in Puxi and Lujiazui in Pudong New Area, dipped 0.03 percent on average in August for the second straight month. They fell 0.01 percent in July for the first time this year. In particular, those in Huangpu and Changning districts and Lujiazui area all fell from a month earlier while Jing'an and Xuhui districts climbed.
Citywide, prices in 72 of 128 areas tracked by the office added 0.31 percent on average last month. Prices fell 0.31 percent on average in 52 areas.
The index, which monitors price fluctuations of the city's existing homes, gained 1 point, or 0.05 percent, from a month earlier to 2,599, extending its rise for 12 consecutive months, the Shanghai Existing House Index Office said yesterday. The index gained 0.03 percent in July.
"The downtown areas witnessed mixed performances over the past month, with prices in some parts of the city rebounding," said Zhang Shu, an analyst at the index office. "Citywide, the number of areas posting price gains outnumbered those which fell."
The prices of existing homes in prime locations, including four downtown districts in Puxi and Lujiazui in Pudong New Area, dipped 0.03 percent on average in August for the second straight month. They fell 0.01 percent in July for the first time this year. In particular, those in Huangpu and Changning districts and Lujiazui area all fell from a month earlier while Jing'an and Xuhui districts climbed.
Citywide, prices in 72 of 128 areas tracked by the office added 0.31 percent on average last month. Prices fell 0.31 percent on average in 52 areas.
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