Hous­ing mar­kets sta­bi­lize as cities im­pose mea­sures to curb spec­u­la­tion

China Daily (Hong Kong) - - BUSINESS - By WU YIYAO in Shang­hai wuyiyao@chi­nadaily.com.cn

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.

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