Home prices rising faster again
December 21, 2015 Category Real estate, Weekly
New home prices in China rose faster in November, after slowing for four consecutive months since July. Prices climbed in 33 cities last month, six more than in October, the National Bureau of Statistics (NBS), which tracks housing prices in 70 cities around the country, said. Prices in 10 cities were flat while they fell in the remaining 27. Shenzhen led the gainers in November with a month-on-month rise of 2.9%, accelerating from a 1.2% gain in October. Next was Shanghai with a 1.9% monthly rise, and Nanjing in Jiangsu province with a 1.4% growth. They ranked first and second in October, respectively. New and existing home markets in first and second-tier cities all registered faster price growth, while in tertiary cities new home prices stopped declining while prices of pre-owned houses remained flat, the NBS said. Year-on-year, prices of new and pre-owned homes kept rising more quickly last month – up 1.5 percentage points and 1.2 percentage points, respectively, from October’s increases.
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