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Home sales pick up in Sept as prices fell in more cities
By Cherry Cao |
October 18, 2012, Thursday
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Online Edition
Online Edition
MORE Chinese cities saw new home prices falling last month while buying sentiment improved across the country, according to data released by National Bureau of Statistics today.
Excluding government-subsidized affordable housing, new home prices declined in 24 of the 70 cities monitored by the bureau, compared with 20 in August. Prices remained unchanged in 15 cities, one more than in August.
New home prices remained flat in Shanghai for the second month while Guangzhou posted a rise of 0.4 percent from August, one of the fastest in the country. Prices gained 0.1 percent in Beijing and Shenzhen.
The existing-home market showed a similar trend with prices falling in 18 of the 70 cities, compared with 16 in August.
New-home sales rose 3.3 percent to 3.38 trillion yuan (US$536 billion) in China in the first nine months, accelerating from a 2.3 percent growth in the January-August period. New home sales totaled 540.4 billion yuan in September, compared with 450.8 billion yuan in August, the bureau said.
But the volume of new homes sold in the first three quarters shrank 4.3 percent year on year to 608.85 million square meters, improving from a 4.8-percent drop in the first eight months.
Last month 99 million square meters of new residential units were sold across the country, compared with 79.09 million square meters in August.
Excluding government-subsidized affordable housing, new home prices declined in 24 of the 70 cities monitored by the bureau, compared with 20 in August. Prices remained unchanged in 15 cities, one more than in August.
New home prices remained flat in Shanghai for the second month while Guangzhou posted a rise of 0.4 percent from August, one of the fastest in the country. Prices gained 0.1 percent in Beijing and Shenzhen.
The existing-home market showed a similar trend with prices falling in 18 of the 70 cities, compared with 16 in August.
New-home sales rose 3.3 percent to 3.38 trillion yuan (US$536 billion) in China in the first nine months, accelerating from a 2.3 percent growth in the January-August period. New home sales totaled 540.4 billion yuan in September, compared with 450.8 billion yuan in August, the bureau said.
But the volume of new homes sold in the first three quarters shrank 4.3 percent year on year to 608.85 million square meters, improving from a 4.8-percent drop in the first eight months.
Last month 99 million square meters of new residential units were sold across the country, compared with 79.09 million square meters in August.
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