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Home prices keep rising but at slower pace
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HOUSING prices in China kept heading north in March, though at a slower pace, according to a China Index Academy report released yesterday.
The average price of new homes in 100 cities climbed 0.38 percent last month from February to 11,002 yuan (US$1,773) per square meter, the 22nd straight month-on-month gain.
In February, prices advanced 0.54 percent, while in January the growth was 0.63 percent, academy data showed.
“We’ve seen narrowing price growth — both monthly and annually — for the third consecutive month in March while the number of cities recording price increases and decreases remained little changed from February,” the academy said. “The number of cities registering price increases and decreases of more than 1 percent, however, fell from a month ago, indicating that more cities are seeing a more stabilized market.”
Across the country, prices in 63 cities rose from a month ago — down by one from February.
Of these, 12 recorded increases of above 1 percent — a drop of eight from a month ago.
Dongguan in south China led last month’s gainers with a 2.29 percent increase. In the 10 largest cities, the average price of a new home climbed 0.67 percent to 19,563 yuan per square meter last month. This compares with a 1.08 percent monthly growth in February and a 1.22 percent rise in January.
Among the 10 cities, Shanghai overtook Beijing as the one which saw the biggest growth with a monthly gain of 0.99 percent, a decrease of 0.12 percentage points from February. Beijing was next with a month-on-month gain of 0.93 percent, compared to a 1.97 percent monthly rise in February.
Year on year, the price of new residential properties in the 100 cities jumped 10.04 percent, extending strength for the 16th consecutive month. It was down from the 10.8 percent rise in February and January’s 11.1 percent gain, data showed.
Of all, 88 cities registered price growth, compared with 90 recorded in February.
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