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Previously-owned home index posts slower gain
By Cherry Cao |
September 7, 2012, Friday
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Print Edition
Print Edition
SHANGHAI'S existing housing index climbed, albeit at a slower pace, for the third month in August.
The index, which monitors price variations of previously-occupied homes in the city, added 2 points, or 0.08 percent, from July to 2,584 last month, the Shanghai Existing House Index Office said yesterday.
The index gained 0.12 percent in July and 0.16 percent in June.
"Prices for existing homes grew at a more moderate pace last month amid a double-digit drop in transaction volume," said Lu Bei, an analyst at the office.
He said buyers were assured by the government's repeated pledges that it would do its utmost to prevent prices to rebound.
Prices rose in 82 of the 128 tracked areas across the city in August but that was a drop of 16 from July. The prices marked an average monthly rise of 0.24 percent, the office said.
Prices in 12 of the areas were flat while they fell by 0.26 percent on average in the remaining 34 areas from July's.
The sales of previously-owned homes dropped 14.7 percent in Shanghai last month, Shanghai Centaline Property Consultants Ltd, operator of the city's largest estate chain in terms of transaction value, said yesterday.
The index, which monitors price variations of previously-occupied homes in the city, added 2 points, or 0.08 percent, from July to 2,584 last month, the Shanghai Existing House Index Office said yesterday.
The index gained 0.12 percent in July and 0.16 percent in June.
"Prices for existing homes grew at a more moderate pace last month amid a double-digit drop in transaction volume," said Lu Bei, an analyst at the office.
He said buyers were assured by the government's repeated pledges that it would do its utmost to prevent prices to rebound.
Prices rose in 82 of the 128 tracked areas across the city in August but that was a drop of 16 from July. The prices marked an average monthly rise of 0.24 percent, the office said.
Prices in 12 of the areas were flat while they fell by 0.26 percent on average in the remaining 34 areas from July's.
The sales of previously-owned homes dropped 14.7 percent in Shanghai last month, Shanghai Centaline Property Consultants Ltd, operator of the city's largest estate chain in terms of transaction value, said yesterday.
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