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More Chinese cities see house prices slow down
By Cao Qian |
July 19, 2011, Tuesday
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Print Edition
Print Edition
More Chinese cities saw a slowdown in house prices in June than in May, according to government data released yesterday.
New home prices, excluding affordable housing, either fell or remained unchanged in 26 out of 70 cities monitored across the country, the National Bureau of Statistics said.
That compared with a fall or no change in 14 cities in April and 20 cities in May.
Nationwide, new home prices in June rose the most, or 0.4 percent month on month, in Shenyang in Liaoning Province, Changsha in Hunan Province, Yinchuan in Ningxia Hui Autonomous Region, Urumqi in Xinjiang Uygur Autonomous Region and Zunyi in Guizhou Province.
In April and May, the largest monthly growth was 0.8 percent and 0.6 percent.
In Shanghai and Beijing, new home prices edged up 0.1 percent last month. That compared with May's gain of 0.2 percent in both cities.
"It is obvious that the government's latest rein-in measures have already made quite a notable impact on first-tier or major cities where tightening policies have been enforced strictly over the past few months," said Sky Xue, an analyst with China Real Estate Information Corp.
"However, as the central government has already made it clear that it would intensify tightening measures in cities where home prices remain extremely high, housing prices across the country are supposed to be cooled down by as early as the third quarter."
The State Council said last week that home-purchase restrictions, at present mainly in larger metropolitan areas, would be extended to second and third-tier cities which had seen home prices gain too rapidly.
Prices for existing homes either dropped or remained flat in 31 cities in June, three fewer than in May.
On a year-on-year basis, three out of the 70 cities recorded decreases in new home prices in June, unchanged from the month before. In the existing home market, five cities registered price drops, compared to six in May.
New home prices, excluding affordable housing, either fell or remained unchanged in 26 out of 70 cities monitored across the country, the National Bureau of Statistics said.
That compared with a fall or no change in 14 cities in April and 20 cities in May.
Nationwide, new home prices in June rose the most, or 0.4 percent month on month, in Shenyang in Liaoning Province, Changsha in Hunan Province, Yinchuan in Ningxia Hui Autonomous Region, Urumqi in Xinjiang Uygur Autonomous Region and Zunyi in Guizhou Province.
In April and May, the largest monthly growth was 0.8 percent and 0.6 percent.
In Shanghai and Beijing, new home prices edged up 0.1 percent last month. That compared with May's gain of 0.2 percent in both cities.
"It is obvious that the government's latest rein-in measures have already made quite a notable impact on first-tier or major cities where tightening policies have been enforced strictly over the past few months," said Sky Xue, an analyst with China Real Estate Information Corp.
"However, as the central government has already made it clear that it would intensify tightening measures in cities where home prices remain extremely high, housing prices across the country are supposed to be cooled down by as early as the third quarter."
The State Council said last week that home-purchase restrictions, at present mainly in larger metropolitan areas, would be extended to second and third-tier cities which had seen home prices gain too rapidly.
Prices for existing homes either dropped or remained flat in 31 cities in June, three fewer than in May.
On a year-on-year basis, three out of the 70 cities recorded decreases in new home prices in June, unchanged from the month before. In the existing home market, five cities registered price drops, compared to six in May.
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