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Home prices continue to head south
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HOME prices in China kept heading south at a milder pace in January, with mixed performances in different-tier cities, a latest national survey showed.
Price drops were recorded in 64 cities last month, compared to 66 in December. Prices were flat in four, compared to three in November, while rising in two cities, which was an increase of one from a month earlier, the National Bureau of Statistics, which tracks house prices in 70 major cities, said on its website yesterday.
“We saw notable diversifications across the country,” said Liu Jianwei, the bureau’s senior statistician. “While first- and second-tier cities registered virtually no change in price, drops of more than 0.5 percent month-over-month were found in third-tier cities.”
Average price of new homes in the country’s four first-tier cities rose for the second consecutive month in January. In the existing housing market, there was momentum for the fourth straight month. In second-tier cities, a slower pace of price decline extended, while in third-tier, home price continued to drop at a faster rate, the data showed.
Nationwide, new home prices in Quanzhou, in southeast China’s Fujian Province, fell 1.7 percent from December to lead the drop. That compared with a maximum 1.3 percent decline in December.
Shenzhen in Guangdong Province, and Ganzhou, in Jiangxi Province, registered new home price increases last month. Prices remained unchanged in Shanghai, Guangzhou, Nanjing and Nanchang. Beijing was the only city among the four first-tier ones that saw a price retreat. New home price in the capital city shed 0.1 percent from December.
On an annual basis, new home prices in 69 of the 70 cities declined, compared to 68 in December. The prices of pre-occupied homes rose in only three cities from a year earlier, unchanged from December, the bureau said.
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