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More big cities report housing price drop
By Cherry Cao |
May 18, 2012, Friday
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Online Edition
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THE number of Chinese cities recording decreases in new home values from a year earlier rose to the highest in April as government curbs on property speculation persist, according to National Bureau of Statistics data released today.
Excluding government-funded affordable housing, prices fell last month in 46 of the 70 cities tracked by the bureau, compared to 38 cities that saw year-on-year declines in March.
On a month-on-month basis, meanwhile, 43 cities posted drops in the price of new residential property in April, while three registered growth and the rest stayed flat.
"It is within our expectations that year-on-year decrease in home prices were found in more cities across the country as the central government has repeatedly pledged to stick with its tightening measures," said Sky Xue, an analyst with China Real Estate Information Corp. "And many of them, including the four gateway ones, continued to extend larger losses from a year earlier."
In Shanghai, Beijing, Guangzhou and Shenzhen, where house purchase restrictions have been vigorously enforced, new home prices lost between 1.2 percent and 1.7 percent in April from a year earlier. That compared to a retreat of between 0.3 percent and 1.1 percent in March.
Month-on-month, the four cities fell by between 0.2 percent and 0.4 percent, extending weakness for the seventh consecutive month, the bureau said.
Excluding government-funded affordable housing, prices fell last month in 46 of the 70 cities tracked by the bureau, compared to 38 cities that saw year-on-year declines in March.
On a month-on-month basis, meanwhile, 43 cities posted drops in the price of new residential property in April, while three registered growth and the rest stayed flat.
"It is within our expectations that year-on-year decrease in home prices were found in more cities across the country as the central government has repeatedly pledged to stick with its tightening measures," said Sky Xue, an analyst with China Real Estate Information Corp. "And many of them, including the four gateway ones, continued to extend larger losses from a year earlier."
In Shanghai, Beijing, Guangzhou and Shenzhen, where house purchase restrictions have been vigorously enforced, new home prices lost between 1.2 percent and 1.7 percent in April from a year earlier. That compared to a retreat of between 0.3 percent and 1.1 percent in March.
Month-on-month, the four cities fell by between 0.2 percent and 0.4 percent, extending weakness for the seventh consecutive month, the bureau said.
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