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Resale of existing homes grows feebly in August
By Cherry Cao |
September 6, 2012, Thursday
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SHANGHAI'S existing housing index climbed for the third straight month in August although at a slower pace.
The index, which monitors resale prices of existing houses, inched up 2 points, or 0.08 percent, from July to 2,584 last month, the Shanghai Existing House Index Office said today.
That compared with a gain of 0.16 percent and 0.12 percent in June and July, respectively.
"Prices for existing homes advanced at a slower pace last month amid a double-digit drop in transaction volume," said Lu Bei, an analyst at the office.
Across the city, 82 of the 128 monitored areas saw price increases, a decrease of 16 from July. They recorded an average month-on-month growth of 0.24 percent.
Prices were flat in 12 areas and declined in the rest 34 areas.
Resale of existing homes shrank 14.7 percent last month, according to Shanghai Centaline Property Consultants Ltd, operator of the city's largest estate chain in terms of transaction value.
Houses priced between 1 million and 2 million yuan (US$157,700 to US$315,500) accounted for 48.6 percent of the total deals last month, followed by those costing 2 million to 3 million yuan, which made up about 20 percent, Centaline said in a report.
The index, which monitors resale prices of existing houses, inched up 2 points, or 0.08 percent, from July to 2,584 last month, the Shanghai Existing House Index Office said today.
That compared with a gain of 0.16 percent and 0.12 percent in June and July, respectively.
"Prices for existing homes advanced at a slower pace last month amid a double-digit drop in transaction volume," said Lu Bei, an analyst at the office.
Across the city, 82 of the 128 monitored areas saw price increases, a decrease of 16 from July. They recorded an average month-on-month growth of 0.24 percent.
Prices were flat in 12 areas and declined in the rest 34 areas.
Resale of existing homes shrank 14.7 percent last month, according to Shanghai Centaline Property Consultants Ltd, operator of the city's largest estate chain in terms of transaction value.
Houses priced between 1 million and 2 million yuan (US$157,700 to US$315,500) accounted for 48.6 percent of the total deals last month, followed by those costing 2 million to 3 million yuan, which made up about 20 percent, Centaline said in a report.
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