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Existing housing index climbs
By Cherry Cao |
July 1, 2011, Friday
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Print Edition
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SHANGHAI'S existing housing index continued to register slight growth in June amid sluggish sales.
The index, which tracks price fluctuations of existing homes across the city, gained 3 points, or 0.09 percent, from a month earlier to 2,597, extending gains for a tenth straight month, the Shanghai Existing House Index Office said yesterday. The index increased 0.15 percent in May and 0.17 percent in April.
"Sales of existing homes fell in the city last month while most areas just recorded very trivial price gains," said Zhang Shu, an analyst at the index office. "Price growth in central districts slowed notably, but comparatively larger growth had been recorded in outlying areas."
Prices of existing homes in prime locations - including four downtown districts in Puxi and the part of Pudong New Area within the Inner Ring Road - edged up 0.08 percent last month, compared to a gain of 0.34 percent in May. At the same time, however, those in outlying districts had a monthly gain of 0.1 percent, the office said.
Prices in 50 of 81 areas monitored by the index office gained 0.19 percent on average last month while they fell 0.24 percent on average in 9 areas. Prices were flat in the other 22 areas from a month earlier.
The index, which tracks price fluctuations of existing homes across the city, gained 3 points, or 0.09 percent, from a month earlier to 2,597, extending gains for a tenth straight month, the Shanghai Existing House Index Office said yesterday. The index increased 0.15 percent in May and 0.17 percent in April.
"Sales of existing homes fell in the city last month while most areas just recorded very trivial price gains," said Zhang Shu, an analyst at the index office. "Price growth in central districts slowed notably, but comparatively larger growth had been recorded in outlying areas."
Prices of existing homes in prime locations - including four downtown districts in Puxi and the part of Pudong New Area within the Inner Ring Road - edged up 0.08 percent last month, compared to a gain of 0.34 percent in May. At the same time, however, those in outlying districts had a monthly gain of 0.1 percent, the office said.
Prices in 50 of 81 areas monitored by the index office gained 0.19 percent on average last month while they fell 0.24 percent on average in 9 areas. Prices were flat in the other 22 areas from a month earlier.
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