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Housing index posts fall in April
By Cherry Cao |
May 4, 2012, Friday
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Print Edition
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SHANGHAI'S existing housing index fell again in April, extending its weakness for the seventh straight month.
The index, which tracks price variations of previously-occupied homes, lost 2 points, or 0.09 percent, from March to 2,575 last month, the Shanghai Existing Index Office said yesterday.
On an annual basis, the index lost 16 points, or 0.59 percent, weakening for the second consecutive month.
"We've noticed a rather slack market sentiment last month as home seekers continued to expect further cuts after the government vowed again to stick to its property curbs. At the same time, an increasing number of home owners have begun to trim their discounts amid a rebound in buyers' inquiries since March," said Lu Bei, an analyst at the office. "Very likely, the market will be dominated soon by a prevailing wait-and-see sentiment."
Across the city, the average price of 69 of the 128 areas monitored by the office dipped 0.24 percent last month while that in 38 areas was flat from March and 21 areas posted an average gain of 0.25 percent in prices, according to the office.
Shanghai Centaline Property Consultants Ltd also said deals for the purchase of existing houses fell by 20 percent in April from a month earlier, while most home owners offered a 3-5 percent cut.
The index, which tracks price variations of previously-occupied homes, lost 2 points, or 0.09 percent, from March to 2,575 last month, the Shanghai Existing Index Office said yesterday.
On an annual basis, the index lost 16 points, or 0.59 percent, weakening for the second consecutive month.
"We've noticed a rather slack market sentiment last month as home seekers continued to expect further cuts after the government vowed again to stick to its property curbs. At the same time, an increasing number of home owners have begun to trim their discounts amid a rebound in buyers' inquiries since March," said Lu Bei, an analyst at the office. "Very likely, the market will be dominated soon by a prevailing wait-and-see sentiment."
Across the city, the average price of 69 of the 128 areas monitored by the office dipped 0.24 percent last month while that in 38 areas was flat from March and 21 areas posted an average gain of 0.25 percent in prices, according to the office.
Shanghai Centaline Property Consultants Ltd also said deals for the purchase of existing houses fell by 20 percent in April from a month earlier, while most home owners offered a 3-5 percent cut.
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