Ningbo, Fuzhou lead rise in transaction volumes

Home transaction volumes last week increased significantly in more than half of the 35 cities monitored by mainland property website SouFun.com. The biggest growth was seen in Ningbo at 125.4 per cent, followed by Fuzhou at 121.61 per cent, according to the latest data from SouFun. Beijing rose 50.15 per cent and Shanghai was up 22.36 per cent. Sales volumed declined in the cities of Baotou, Harbin, Wenzhou, Wuhan and Tianjin, according to SouFun. The average selling price rebounded in 17 out of the 34 cities monitored, with Wuhan reporting the biggest growth of 46.5 per cent week on week. Prices in Sanya rose 46.06 per cent from the previous week and Shanghai's average home prices increased 5.69 per cent, while Beijing prices fell 7.72 per cent from the preceding week.