HOME prices in China rose by a slower pace in June, the China Index Academy said in a report released yesterday.
The average cost of a new home added 1.3 percent to 11,816 yuan (US$1,775) per square meter from a month earlier, said the academy, which tracks market activity in 100 cities nationwide. It climbed 1.7 percent in May and nearly 1.5 percent in April.
Prices gained in 73 cities nationwide, fell in 22 and were flat in five. Of the gainers, 30 cities posted a month-on-month rise of above 1 percent, up from 29 cities in May.
Nanjing in Jiangsu Province led with a monthly gain of 3.82 percent, followed by Xiamen in Fujian Province and Jiaxing in Zhejiang Province.
Of the four first-tier cities, Shenzhen’s gain of 1.97 percent from May was the biggest, followed by Beijing’s 1.96 percent, Shanghai’s 1.17 percent and 0.53 percent in Guangzhou.
Price of a new home in the country’s 10 largest cities rose 1.52 percent from a month earlier to 22,450 yuan per square meter, slowing from a 1.93 percent gain in May.
“With several key cities introducing more tightening measures to cool the overheated housing market, the average new home price in the country’s 100 cities will likely slow down further,” the academy said.
On an annual basis, the average cost of a new home rose 11.18 percent in June, accelerating from a 10.34 percent increase in May and an 8.98 percent gain in April.
Prices gained in 59 cities from a year ago, up from 54 cities in May. Shenzhen again led with an annual growth of 51.95 percent, the academy said.
In Shanghai, the area of new Shanghai homes sold, excluding government-subsidized affordable housing, surged 26.4 percent to 1.25 million square meters last month, Shanghai Homelink Real Estate Agency Co reported yesterday. They were sold for an average 36,629 yuan per square meter, a month-on-month dip of 0.2 percent, according to Homelink data.
