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Home prices rise slower as tightening takes effect
By Cherry Cao |
May 19, 2013, Sunday
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Print Edition
Print Edition
NEW home prices continued to rally in most Chinese cities in April, although the pace slowed slightly, the National Bureau of Statistics said yesterday.
Excluding government-funded affordable housing, prices rose in 67 of the 70 cities tracked by the bureau, compared with 68 cities in March.
Guangzhou and Shenyang recorded the biggest increase at 2.1 percent last month.
Shanghai, which registered the country's largest increase at 3.2 percent in March, followed them with a month-on-month growth of 2 percent.
Beijing and Shenzhen both climbed at 1.8 percent, though this was down from 2.7 percent and 2.8 percent respectively in March.
Prices remained flat in Wenzhou, while Hohhot and Tangshan both registered a fall of 0.1 percent on the previous month.
Year on year, new home prices rose in 68 of the 70 cities, compared to 67 in March.
"While the number of cities registering price gains remained little changed from a month earlier, the pace has decelerated," said Liu Jianwei, a senior statistician at the bureau.
"Of the 67 cities seeing monthly gains in April, 36 cities - including the four first-tier ones - recorded a slower pace."
In the existing home market, 66 cities registered month-on-month price increases in April, unchanged from March.
The number of cities where prices gained from a year earlier, meanwhile, rose from 59 in March to 64 last month, according to the bureau.
The data provided the latest evidence of a gradual retreat in market sentiment as home seekers felt less panicky in April compared to a hectic March.
In April, new home sales in China fell to 494.6 billion yuan (US$79.8 billion) from 569.4 billion yuan in March, while by volume, they declined to 79.3 million square meters from 94 million square meters, according to data released earlier by the bureau.
The State Council rolled out an array of measures on March 1 in its latest bid to tighten controls on the property market amid expectations of rising housing prices.
A 20 percent tax on capital gains triggered a wave of selling and buying.
Despite some signs of stabilizing, Liu said it remains critical for local governments to proceed with the property tightening measures as the risk of further price growth still looms large in the majority of Chinese cities.
Excluding government-funded affordable housing, prices rose in 67 of the 70 cities tracked by the bureau, compared with 68 cities in March.
Guangzhou and Shenyang recorded the biggest increase at 2.1 percent last month.
Shanghai, which registered the country's largest increase at 3.2 percent in March, followed them with a month-on-month growth of 2 percent.
Beijing and Shenzhen both climbed at 1.8 percent, though this was down from 2.7 percent and 2.8 percent respectively in March.
Prices remained flat in Wenzhou, while Hohhot and Tangshan both registered a fall of 0.1 percent on the previous month.
Year on year, new home prices rose in 68 of the 70 cities, compared to 67 in March.
"While the number of cities registering price gains remained little changed from a month earlier, the pace has decelerated," said Liu Jianwei, a senior statistician at the bureau.
"Of the 67 cities seeing monthly gains in April, 36 cities - including the four first-tier ones - recorded a slower pace."
In the existing home market, 66 cities registered month-on-month price increases in April, unchanged from March.
The number of cities where prices gained from a year earlier, meanwhile, rose from 59 in March to 64 last month, according to the bureau.
The data provided the latest evidence of a gradual retreat in market sentiment as home seekers felt less panicky in April compared to a hectic March.
In April, new home sales in China fell to 494.6 billion yuan (US$79.8 billion) from 569.4 billion yuan in March, while by volume, they declined to 79.3 million square meters from 94 million square meters, according to data released earlier by the bureau.
The State Council rolled out an array of measures on March 1 in its latest bid to tighten controls on the property market amid expectations of rising housing prices.
A 20 percent tax on capital gains triggered a wave of selling and buying.
Despite some signs of stabilizing, Liu said it remains critical for local governments to proceed with the property tightening measures as the risk of further price growth still looms large in the majority of Chinese cities.
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