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China's home prices remain stable in November

2018-12-15 20:24

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Home prices in major Chinese cities largely remained stable in November as local governments toughened up control of the housing market, official data showed Saturday.

On a month-on-month basis, new house prices in China's four first-tier cities - Beijing, Shanghai, Shenzhen and Guangzhou - gained 0.3 percent last month, the National Bureau of Statistics (NBS) said in a statement.

Meanwhile, resold house prices in the four cities edged down at a faster pace, from 0.2 percent in October to 0.4 percent in November.

From January to November, average new home prices rose just 0.3 percent year on year in the four first-tier cities, compared with an 10.9-percent growth during the same period last year.

The NBS monitors the house prices in 70 large Chinese cities, including 31 second-tier and 35 third-tier cities. Growth of house prices in the second-tier cities were flat with October, while that of third-tier cities declined.

In the first 11 months, new home price growth in second-tier and third-tier cities came in at 7.2 percent and 7.6 percent, respectively, slowing from last year.

Among the 70 cities monitored by the NBS, new house prices only fell in two cities in annual terms last month, including Xiamen in Fujian Province and Shenzhen in Guangdong Province.
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