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January 17, 2019

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Home » Business » Real Estate

Home sales present a mixed picture

By Cao Qian | 00:05 UTC+8 January 17, 2019 | Print Edition

Markets for new homes across major cities registered mixed performances in December and existing homes continued to show signs of cooling, the latest official data showed yesterday.

New home prices in the four first-tier cities rose an average 1.3 percent month on month, up from 0.3 percent in November, according to the National Bureau of Statistics, which monitors prices in 70 major cities.

Prices in Guangzhou rose 3 percent, the fastest among the four and also for the country as a whole.

In Beijing, Shanghai and Shenzhen, the increase was 1 percent, 0.6 percent and 0.4 percent.

“New home sales in the four gateway cities picked up during the year-end period and property prices also went upward,” said Liu Jianwei, a senior statistician at the bureau. “In second and third-tier cities, meanwhile, slower price growth was recorded as stability continued to prevail.”

New home prices in the 31 second-tier cities and 35 third-tier cities both rose 0.7 percent last month, compared with an increase of 0.4 percent and 0.5 percent in November, the bureau’s data showed.

In the existing home market, prices in the four gateway cities all fell from the previous month, with an average decrease of 0.3 percent.

In second-tier cities, prices edged up 0.1 percent on average, compared with 0.3 percent growth last month.

In tertiary cities the rise was 0.3 percent in December, compared with 0.2 percent in November.

Prices of new and pre-occupied homes in the four first-tier cities rose 2.8 percent and 0.6 percent year on year in December.

In second and third-tier cities, new home prices jumped 11.3 percent and 10.8 percent, respectively, from the same period a year ago, while in the existing home market, prices rose 7.9 percent and 8.2 percent respectively.

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