Home prices rise in fewer cities in June
July 25, 2016 Category Real estate, Weekly
The number of Chinese cities witnessing a rise in home prices fell for the second month in June. Prices of new homes rose last month in 55 cities of the 70 monitored by the National Bureau of Statistics (NBS), five fewer than in May. Prices fell in 10 cities and were flat in the remaining five. Hefei, capital of Anhui province, led with an increase of 4.9% compared with May, followed by Xiamen in Fujian province where prices increased 4.7% and Nanjing where they rose 4%. “The pace of price growth in new and pre-owned housing markets both decelerated last month, by 0.1 percentage points and 0.2 percentage points, respectively, from May,” said Liu Jianwei, NBS Senior Statistician. “In particular, the average pace in first-tier cities still managed to quicken a little while those in second and third-tier cities continued to slow.” New home prices in the 70 major cities climbed 1.8% on average in June from a month earlier while prices of pre-owned houses gained an average of 1.2% from May. Shenzhen led the four gateway cities with a 2.6% month-on-month gain in new home prices, followed by Shanghai’s 2.4% rise, Beijing’s 2.3% and Guangzhou’s 1.8%. Year-on-year, new home prices rose in 57 cities in June, fell in 12 cities, and were flat in one. In the pre-owned market, prices rose in 52 cities in June from a year earlier, fell in 16 cities, and were flat in two, the Shanghai Daily reports.
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