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Macro-economy

Chinese cities see slower housing price growth in September

October 14, 2019


Abstract : Home prices in 100 Chinese cities continued to increase in September, but at a slower pace, as the country maintained tight regulations to curb speculation in the property market.

BEIJING, Oct. 13 (Xinhua) -- Home prices in 100 Chinese cities continued to increase in September, but at a slower pace, as the country maintained tight regulations to curb speculation in the property market.

Average new home prices rose 3.56 percent year on year in September, with the pace of increase decelerating 0.12 percentage points from August, according to a survey released by the China Index Academy, a property research institution.

On a month-on-month basis, the average new home price edged up 0.31 percent, down from a 0.37-percent increase in August.

Of the 100 surveyed cities, 64 saw a month-on-month growth in new home prices while 36 reported falling or unchanged prices.

Fifteen cities saw the new home prices rise more than 1 percent in September from a month earlier, two less than that recorded in August.

Only one city saw its month-on-month decline exceed 1 percent.

In terms of floor areas, new home sales rose 0.34 percent month on month and 2.58 percent year on year in September, according to the academy.

The academy predicted that the property market would see steady development and low-frequency fluctuations.

The Chinese government has repeatedly stated that "housing is for living in, not speculation" and vowed continued efforts to ensure the healthy development of the property market.

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Keyword: home-price China-economy

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