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Home prices climb in more cities
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THE number of Chinese cities where home prices have risen month on month continued to climb in July, according to data released yesterday by the National Bureau of Statistics.
Across the country, 31 cities saw month-on-month rise in new home prices, an increase of four from June, said the bureau, which monitors home prices in 70 cities. Twenty-nine cities saw prices fall while the rest 10 saw prices flat from a month ago.
“For the first time in 15 months, the number of cities recording monthly price increases exceeded those registering declines, indicating a continuing recovery in the housing market around the country,” said Lu Qilin, director of research at Shanghai Homelink Real Estate Agency Co.
“However, differences continued to exist in different-sized cities with home prices in most third and fourth-tier ones still dropping from a month ago.”
Shenzhen in Guangdong Province saw a month-on-month growth of 6.3 percent, the biggest increase among all cities. It was followed by Shanghai’s 1.9 percent gain, Beijing’s 1.4 percent rise and Guangzhou’s 1.2 percent increase, according to the bureau’s data.
In the pre-owned home market, 39 cities posted price gains from a month earlier, down by three from June. Prices in 13 cities were flat while another 18 suffered decline, compared with eight and 20, respectively, in the previous month.
The average home price in the 70 cities rose more slowly in July, or down by 0.2 percentage points for new properties compared with June’s growth and by 0.1 percentage points for pre-owned homes, said Liu Jianwei, a senior statistician at the bureau, without giving specific growth figures.
Backed by robust residential sales around the country over the past few months, China’s property market has bottomed out from a downturn after several stimulus policies launched by the central and local governments since late last year began to take effect.
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