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Home prices still rising in March
By Cao Qian |
April 18, 2011, Monday
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MORE Chinese cities registered evidence of a slowdown in home price growth last month while the majority continued to witness price increases.
New home prices, excluding affordable housing, either fell or remained unchanged month-on-month in 20 out of the 70 cities monitored across the country, six more than in February, the National Bureau of Statistics said today.
Prices rose the most, or 1 percent, in Xi'an, capital of Shaanxi Province, and in Jiujiang of Jiangxi Province. Shanghai's average new home price climbed 0.2 percent from February. Another 29 cities registered slower monthly price growth, the bureau said.
Meanwhile, the prices of existing homes either dropped or remained flat in 26 cities, also six more than in February. Among the gainers, only three cities managed to rise by more than 1 percent, compared to five cities in February. Shanghai's monthly growth was 0.4 percent.
Five cities recorded price drops in March as compared with a year ago, while 45 cities posted slower growth, compared with 22 cities in February, the bureau said.
"More than two thirds of Chinese cities continued to register month-on-month price growth in March and ample liquidity. The de facto negative interest rates and an appreciating Chinese currency may further spur the growth of home prices in China," said Liu Ligang, an ANZ economist.
New home prices, excluding affordable housing, either fell or remained unchanged month-on-month in 20 out of the 70 cities monitored across the country, six more than in February, the National Bureau of Statistics said today.
Prices rose the most, or 1 percent, in Xi'an, capital of Shaanxi Province, and in Jiujiang of Jiangxi Province. Shanghai's average new home price climbed 0.2 percent from February. Another 29 cities registered slower monthly price growth, the bureau said.
Meanwhile, the prices of existing homes either dropped or remained flat in 26 cities, also six more than in February. Among the gainers, only three cities managed to rise by more than 1 percent, compared to five cities in February. Shanghai's monthly growth was 0.4 percent.
Five cities recorded price drops in March as compared with a year ago, while 45 cities posted slower growth, compared with 22 cities in February, the bureau said.
"More than two thirds of Chinese cities continued to register month-on-month price growth in March and ample liquidity. The de facto negative interest rates and an appreciating Chinese currency may further spur the growth of home prices in China," said Liu Ligang, an ANZ economist.
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