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Housing index up but pace still slow
By Cherry Cao |
July 4, 2013, Thursday
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Online Edition
Online Edition
SHANGHAI'S pre-owned housing index rose for the 13th consecutive month but at a continuously slower pace.
The index, which monitors price variations, gained 36 points, or 1.31 percent, from May to 2,777 in June, the Shanghai Existing House Index Office said today.
It climbed 1.72 percent, 1.5 percent and 1.48 percent, respectively, between March and May.
"Buying momentum continued to pick up around the city last month with new supply remaining inadequate," said Chen Zhen, an analyst at the office. "Individual owners either maintained or further raised their asking prices amid an upbeat industry outlook."
Across the city, prices of existing homes rose in 80 of the 130 areas tracked by the office by an average 2.8 percent in June from May. They fell in 31 areas by an average 1.88 percent while remained unchanged in the other 19.
The index, which monitors price variations, gained 36 points, or 1.31 percent, from May to 2,777 in June, the Shanghai Existing House Index Office said today.
It climbed 1.72 percent, 1.5 percent and 1.48 percent, respectively, between March and May.
"Buying momentum continued to pick up around the city last month with new supply remaining inadequate," said Chen Zhen, an analyst at the office. "Individual owners either maintained or further raised their asking prices amid an upbeat industry outlook."
Across the city, prices of existing homes rose in 80 of the 130 areas tracked by the office by an average 2.8 percent in June from May. They fell in 31 areas by an average 1.88 percent while remained unchanged in the other 19.
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