China's home prices remain stable in October
BEIJING: China's property market remained stable in October with home prices falling or posting slower growth in major cities amid tough control policies, the National Bureau of Statistics (NBS) said Saturday.
On a yearly basis, new residential housing prices saw slower growth in 13 of the 15 major cities considered the "hottest markets," NBS data showed.
On a month-on-month basis, new prices fell in 9 of the 15 cities.
New home prices in Tianjin, Shanghai, and Chengdu climbed 0.1, 0.3, and 0.7 percent, respectively.
Of the 70 large and medium-sized cities surveyed, home prices in 50 cities rose month on month, compared with 44 in September. NBS statistician Liu Jianwei said that housing prices were "generally stable" in major cities as control policies in different cities continued to take effect.
New residential housing prices in the country's first-tier cities dropped 0.1 percent compared with a month earlier, while second-hand home prices remained flat.
On a yearly basis, both new and second-hand home prices in the first-tier cities reported slower growth for the 13th consecutive month in October. New home prices in smaller second- and third-tier cities both rose 0.3 percent month-onmonth, higher than the growth in September.
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