Sta­ble Home Prices

Beijing Review - - This Week Economy -

China’s prop­erty mar­ket con­tin­ued to show signs of cool­ing as home prices fal­tered or posted slower growth in ma­jor ci­ties fol­low­ing tough pur­chase re­stric­tions, of­fi­cial data showed on Au­gust 18.

On a yearly ba­sis, of the 70 ci­ties sur­veyed in July, the pace of new home price growth slowed in 15 ma­jor ci­ties com­pared with the same month last year, the Na­tional Bu­reau of Statis­tics (NBS) said.

On a month-on-month ba­sis, new home prices fell or re­mained flat in 14 ci­ties in July, up from 10 in June, ac­cord­ing to the NBS data.

In Bei­jing, Nan­jing and Shen­zhen, new res­i­den­tial home prices fell in July from a month ear­lier, while Shang­hai and Hangzhou saw prices un­changed.

Year on year, home prices in Bei­jing and Shang­hai rose 8.9 per­cent and 7.3 per­cent in July, re­spec­tively.

“The data show a no­table sta­bi­liza­tion in prices due to the gov­ern­ment’s dif­fer­en­ti­ated con­trol poli­cies,” said NBS statis­ti­cian Liu Jian­wei.

Liu said cur­rent prop­erty mar­ket reg­u­la­tions fo­cus on eas­ing home

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