Housing markets stabilize as cities impose measures to curb speculation
fast growing housing prices have price of pre-owned make sure housing prices are develbeen effective, and housing prices remained the same. oping in a steady and healthy manner.arestabilizing,saidLiuJianwei,Insecond-tiercities,thegrowthof The overheated residential propsenior statistician with NBS. housing price was curbed, with the Market players said that because erty markets in 15 key cities in China Average housing prices dropped average price of newly-built propercities are likely to adjust policies to “obviously cooled down” in Novemthe most in Chengdu, by 0.8 percent. ties rising slightly at 0.4 percent and manage property markets based on ber, said a research report from the Shenzhen, Chengdu, Urumqi, Baopre-owned properties 0.3 percent their specific market conditions. National Bureau of Statistics on tou, Mudanjiang, Luzhou and Nanmonth-on-month, versus 1.2 perChina’s housing markets are still Monday, based on housing price chong also saw drops, said the cent and 0.8 percent in October, said diverging as key cities’ prices are risdata from 70 monitored cities. report. Liu. ing and lower-tier cities face high
Prices of newly-built properties In key cities, housing prices Lower-tier cities’ housing prices inventory. went down in four cities, and prices remain basically the same as last are stable, too, said Liu. November data reinforce the of pre-owned properties declined in year, said Liu. The average price of More than 20 cities have introOctober data that indicated a rapid seven, showing that measures by newly-built residential properties duced various policies against specslow down in price growth in some various cities to use steps appropriwent up 0.1 percent month-onulative buying in a bid to curb too of the leading cities, especially those ate to local conditions to curb too month in first-tier cities, while the fast growing housing prices and to that recorded faster growth for the properties majority of 2016. Nevertheless the slowdown seems to be more muted in lower tier cities, which weren’t subject to the same restrictions, with price growth actually picking up in some of the smallest cities,” said James Macdonald, head of China Research.
Analysts said “turning points” of housing prices are showing in some key cities for the first time in the last 12 months.
That is, their average housing price in the second half of a month is lower than in the first half of the month, reflecting a downward trend.
In Beijing, Shanghai, Shenzhen, Nanjing, Hangzhou, Xiamen, Fuzhou, Tianjin and Wuxi, which have seen fast housing price increases since late 2015, housing price growth turned negative in the second half of November, compared to that of first half of November.
“We expect that in some cities, fast growth of housing price will turn to slow growth and even slight declines in November and December,” said Zhang Dawei, an analyst with Centaline Property in a research note.