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Index up for 1st time in 9 months
By Cherry Cao |
July 6, 2012, Friday
|
Print Edition
Print Edition
SHANGHAI'S existing housing index rose in June for the first time in nine months as sentiment recovered.
The index, which tracks price variations, rose 4 points, or 0.16 percent, from May to 2,579, the Shanghai Existing Index Office said yesterday.
Before June, the index was flat in May after falling for seven straight months.
"The sales of existing homes soared to the highest in 17 months in June amid a notable recovery in buying sentiment," said Lu Bei, an analyst at the office. "Home prices rose in most of the areas but their rise was mild."
The average price of 103 of the 128 areas checked by the office rose 0.25 percent on average last month while that in 21 areas shed 0.25 percent from May, and four areas were flat.
The index, which tracks price variations, rose 4 points, or 0.16 percent, from May to 2,579, the Shanghai Existing Index Office said yesterday.
Before June, the index was flat in May after falling for seven straight months.
"The sales of existing homes soared to the highest in 17 months in June amid a notable recovery in buying sentiment," said Lu Bei, an analyst at the office. "Home prices rose in most of the areas but their rise was mild."
The average price of 103 of the 128 areas checked by the office rose 0.25 percent on average last month while that in 21 areas shed 0.25 percent from May, and four areas were flat.
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