ecns [expanded by feedex.net]: Houses in most cities see prices still rising

ecns [expanded by feedex.net]

ecns

Houses in most cities see prices still rising
http://www.ecns.cn/business/2013/02-24/51116.shtml
Feb 24th 2013, 03:19

2013-02-24 12:19 Shanghai Daily     Web Editor: Su Jie
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House prices continued to gather pace across the country in January, with more than 70 percent of cities recording monthly and yearly gains, the National Bureau of Statistics said on Friday.


Excluding government-subsidized affordable housing, prices rose in 53 of the 70 cities tracked by the bureau, little changed from December's 54. Prices were flat in seven cities while the remaining 10 registered falls.


Shenzhen led with a monthly increase of 2.2 percent, immediately followed by 2.1 percent in Beijing and 2 percent in Guangzhou. That compared with a maximum gain of 1.2 percent in December.


Shanghai gained 1.3 percent in January, also accelerating from a 0.7 percent increase in the previous month.


Year on year, new home prices rose in 53 of the 70 cities, with a maximum gain of 4.7 percent. That compared to 40 in December, when the largest increase was 2.4 percent.


"More developers started to offer smaller discounts or even canceled them amid continuously improving buying sentiment while a growing number of home seekers decided to stop waiting any further over somewhat uncertain market prospects," said Liu Jianwei, a senior statistician at the bureau.


"However, I don't see big chances for a significant rebound in home prices on a massive scale as the government reiterated its vow to fight housing speculation."


Earlier this week, the central government said curbing speculation while extending support for owner-occupier demand would remain a priority.


It asked local governments to vigorously enforce existing austerity measures, which include home purchase restrictions and differentiated credit and tax policies. There are also plans to extend a property tax trial, currently in force in Shanghai and Chongqing, to more cities.


In the existing home market, 51 cities registered month-on-month price increases in January, compared to 46 in December. The number of cities where prices gained from a year earlier also rose from 25 in December to 36 last month.


Standard & Poor's Ratings Services, which monitors dozens of real estate developers across the country, said earlier this week that it expects overall property prices to see a moderate rise this year.





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