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Home price growth slows in 31 cities last month
By Cao Qian |
August 18, 2011, Thursday
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MORE Chinese cities reported a slowdown in home price growth in July as the government's tightening effort took effect, according to official data released today.
New home prices, excluding those of government-funded affordable housing, either fell or remained unchanged in 31 out of the 70 cities monitored across the country, the National Bureau of Statistics said on its website.
That compared with a fall or no change in 26 cities in June, 20 cities in May and 14 cities in April.
Nationwide, new home prices in Luzhou in Sichuan Province rose the most, or 0.8 percent month on month, followed by Nanchong in Sichuan and Dali in Yunnan Province, up 0.6 percent and 0.5 percent, respectively.
In June, the largest monthly growth was 0.4 percent, according to government data.
In Shanghai and Beijing, where rein-in measures such as home purchase restrictions, have been rigorously enforced, new home prices remained unchanged from a month earlier, following a 0.1 percent gain in June and a 0.2 percent growth in May in both cities.
"With existing measures to cool the country's housing market still in place, the central government's efforts to combat soaring home prices and the real estate bubble have worked as earlier hoped," said Tony Chen, general manager of the research center under China Real Estate Information Corp.
New home prices, excluding those of government-funded affordable housing, either fell or remained unchanged in 31 out of the 70 cities monitored across the country, the National Bureau of Statistics said on its website.
That compared with a fall or no change in 26 cities in June, 20 cities in May and 14 cities in April.
Nationwide, new home prices in Luzhou in Sichuan Province rose the most, or 0.8 percent month on month, followed by Nanchong in Sichuan and Dali in Yunnan Province, up 0.6 percent and 0.5 percent, respectively.
In June, the largest monthly growth was 0.4 percent, according to government data.
In Shanghai and Beijing, where rein-in measures such as home purchase restrictions, have been rigorously enforced, new home prices remained unchanged from a month earlier, following a 0.1 percent gain in June and a 0.2 percent growth in May in both cities.
"With existing measures to cool the country's housing market still in place, the central government's efforts to combat soaring home prices and the real estate bubble have worked as earlier hoped," said Tony Chen, general manager of the research center under China Real Estate Information Corp.
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