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More cities report falling home prices in March
By Cherry Cao |
April 18, 2012, Wednesday
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HOME prices in majority of mainland cities continued to fall last month as the government vowed to stick to its rein-in measures, according to figures released by the National Bureau of Statistics today.
New home prices, excluding that of government-funded housing, declined in March in 46 of the 70 cities monitored by the bureau, compared with 45 cities that saw month-on-month declines in February.
Meanwhile, 38 cities saw year-on-year retreats in new home prices, compared with 27 cities in February.
"That was the largest number of cities reporting a year-on-year decline since September 2011 when a year-on-year decrease occurred among the 70 cities," said Ma Xiaoming, a senior statistician at the bureau. "Among the 38 cities, half of them, including four first-tier cities, witnessed steep drops, indicating a lasting influence from the property curb."
In Shanghai, Beijing, Guangzhou and Shenzhen where purchase restrictions are strictly enforced, new home prices lost between 0.3 percent and 1.1 percent in March from a year earlier. In February Guangzhou still gained 0.3 percent and the rest lost a maximum 0.4 percent.
The four first-tier cities saw their new home prices drop by 0.2 percent to 0.5 percent year-on-year in March, extending losses six months on end, according to the bureau.
And prices of second-hand homes fell in 42 cities last month. They were unchanged in 12 cities and gained no more than 0.8 percent in 16 other cities, the bureau said.
An earlier survey by the China Index Academy, which tracked 100 mainland cities, found home prices fell by an average of 0.3 percent in March, extending the slump for the seventh straight month.
China recorded double-digit declines in new home sales, both in volume and value, in the first quarter of this year. The volume fell 15.5 percent year-on-year to 133.87 million square meters while the value shrank 17.5 percent to 709.9 billion yuan (US$112.7 billion), the bureau said.
New home prices, excluding that of government-funded housing, declined in March in 46 of the 70 cities monitored by the bureau, compared with 45 cities that saw month-on-month declines in February.
Meanwhile, 38 cities saw year-on-year retreats in new home prices, compared with 27 cities in February.
"That was the largest number of cities reporting a year-on-year decline since September 2011 when a year-on-year decrease occurred among the 70 cities," said Ma Xiaoming, a senior statistician at the bureau. "Among the 38 cities, half of them, including four first-tier cities, witnessed steep drops, indicating a lasting influence from the property curb."
In Shanghai, Beijing, Guangzhou and Shenzhen where purchase restrictions are strictly enforced, new home prices lost between 0.3 percent and 1.1 percent in March from a year earlier. In February Guangzhou still gained 0.3 percent and the rest lost a maximum 0.4 percent.
The four first-tier cities saw their new home prices drop by 0.2 percent to 0.5 percent year-on-year in March, extending losses six months on end, according to the bureau.
And prices of second-hand homes fell in 42 cities last month. They were unchanged in 12 cities and gained no more than 0.8 percent in 16 other cities, the bureau said.
An earlier survey by the China Index Academy, which tracked 100 mainland cities, found home prices fell by an average of 0.3 percent in March, extending the slump for the seventh straight month.
China recorded double-digit declines in new home sales, both in volume and value, in the first quarter of this year. The volume fell 15.5 percent year-on-year to 133.87 million square meters while the value shrank 17.5 percent to 709.9 billion yuan (US$112.7 billion), the bureau said.
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