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Home prices rise in fewer cities
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The number of Chinese cities reporting month-on-month home price growth declined for a third month in March while Shanghai continued to lead the way in terms of year-on-year price increases, the National Bureau of Statistics said today.
Excluding government-subsidized affordable housing, prices of new residential properties rose in 56 of 70 monitored cities around the country last month, the bureau said.
That compared with 57 cities in February, 62 in January, and 65 in December.
On a year-on-year basis, 69 cities recorded rising new home prices. The lone exception was Wenzhou in Zhejiang Province.
New home prices in Shanghai rose 15.5 percent from last March, putting the city at the top of the list for the sixth straight month.
It monitors both new and existing housing prices in 70 major cities.
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