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House buyers’ mood up
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THE value and volume of new home sales in China fell more slowly in the first 10 months of this year as sentiment among buyers improved in October, the National Bureau of Statistics said yesterday.
New houses sold across the country fell 9.9 percent in the January-October period from a year earlier to 4.63 trillion yuan (US$755 billion), according to a statement on the bureau’s website.
In the first three quarters, the value declined 10.8 percent year on year.
Meanwhile, 776 million square meters of new houses were sold during the 10-month period, down 9.5 percent from a year ago. Between January and September, the volume declined 10.3 percent year on year.
“The central bank’s announcement in late September of a cut in mortgage rates and minimum down payment levels for some buyers did help boost momentum in the country’s housing market last month,” said Lu Qilin, a researcher at Shanghai Deovolente Realty Co.
“The latest government move is leaving a quite significant psychological impact on home seekers though at the moment not so many of them can benefit from the policy change.”
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