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Growth in China's housing price slows in Nov
By Cao Qian |
December 10, 2010, Friday
|
Online Edition
Online Edition
URBAN property prices in China rose for the 18th consecutive month in November, despite that the year-on-year growth has been decelerating for seven straight months.
Real estate prices in 70 major Chinese cities advanced 7.7 percent last month from a year earlier, the National Bureau of Statistics said today. Property prices across the country rose the fastest in April at 12.8 percent and started to slow down its pace since May.
Tightening measures by the central government since mid April helped rein in property speculations to some extent and curbed price growth.
On a month-on-month basis, however, real estate prices edged up 0.3 percent in November, compared to a 0.2 percent gain in October.
"On the whole, the current rein-in policies are still far from effective to bring down housing prices and fail to meet public expectations though slower growth has been registered over the past seven months," said Song Huiyong, a research director at Shanghai Centaline Property Consultants Ltd, which runs more than 240 estate branches across the city. "The market has so far remained stable in terms of home prices after two rounds of tightening measures -- the first since mid April and the second since late September -- and perhaps it is time for the government to introduce some new polices."
Across the country, prices of new and existing homes jumped 9.3 percent and 5.6 percent in November from a year earlier, compared with 10.6 and 5.9 percent increases in October. In Shanghai, they rose 2.3 percent and 4.4 percent.
Real estate prices in 70 major Chinese cities advanced 7.7 percent last month from a year earlier, the National Bureau of Statistics said today. Property prices across the country rose the fastest in April at 12.8 percent and started to slow down its pace since May.
Tightening measures by the central government since mid April helped rein in property speculations to some extent and curbed price growth.
On a month-on-month basis, however, real estate prices edged up 0.3 percent in November, compared to a 0.2 percent gain in October.
"On the whole, the current rein-in policies are still far from effective to bring down housing prices and fail to meet public expectations though slower growth has been registered over the past seven months," said Song Huiyong, a research director at Shanghai Centaline Property Consultants Ltd, which runs more than 240 estate branches across the city. "The market has so far remained stable in terms of home prices after two rounds of tightening measures -- the first since mid April and the second since late September -- and perhaps it is time for the government to introduce some new polices."
Across the country, prices of new and existing homes jumped 9.3 percent and 5.6 percent in November from a year earlier, compared with 10.6 and 5.9 percent increases in October. In Shanghai, they rose 2.3 percent and 4.4 percent.
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