China’s home price growth cools in April
New home prices rose in April in six of the 15 major cities tracked by the National Bureau of Statistics, down from nine the previous month
The growth of home prices in China cooled again in April, after a brief uptick in March, as tougher market restrictions introduced by local governments took effect.
New home prices rose on a monthly basis in six of the 15 first- and second-tier cities that are closely monitored by the National Bureau of Statistics, according to figures released on Thursday.That compared with nine in March.
Of the 70 mainland cities tracked by the bureau, prices climbed in 58, down from 62 in March.
New home prices in the southern metropolis of Guangzhou jumped 1.4 per cent from the previous month, the biggest gain among the 15 major cities, but slower than the 2.5 per cent gain in March. New home price in Beijing rose 0.2 per cent in April, while in Shanghai they declined 0.2 per cent.
A record four cities – Hangzhou, Xiamen, Shenzhen and Chengdu – saw prices remain flat, which some analysts said may be the result of data manipulation by local authorities.
Various cities have stepped up their curbs on home-buying since late March, in many cases closing “loopholes” in existing restrictions. As many as 20 cities have imposed rules that require buyers of new homes to hold the properties for at least two years before resale.