House prices rise in April

Prices of both new and pre-occupied homes in all cities across China continued to rise in April at a moderate pace, according to official data released on Thursday.

In the four first-tier cities on a month-over-month basis, new home prices climbed an average 0.6 percent last month, accelerating from 0.2 percent growth in March. Prices gained 0.5 percent, 0.3 percent, 1.1 percent and 0.4 percent. respectively, in Beijing, Shanghai, Guangzhou and Shenzhen.

In the existing housing market, prices in the four cities advanced an average 0.4 percent, up 0.1 percentage point from March. Prices rose 0.6 percent, 0.5 percent and 1.1 percent in Beijing, Shanghai and Shenzhen and shed 0.4 percent in Guangzhou, according to the bureau.

In 31 second-tier cities, new home prices rose an average 0.8 percent last month, compared with 0.6 percent in March. Prices of pre-occupied homes jumped 0.6 percent, easing from 1.2 percent growth in March.

In even smaller third-tier cities, new home prices edged up an average 0.5 percent from a month ago, easing by 0.2 percentage point from March. Prices of existing homes in the 35 cities increased 0.6 percent, compared with a 0.5 percent rise in March.

Countrywide, new home prices in Qinhuangdao, in northern Hebei Province, recorded the biggest month-over-month increase of 1.8 percent.

On a year-on-year basis, prices of new homes in first and second-tier cities both rose at a faster pace in April. They climbed 4.7 percent and 12.3 percent, respectively, up 0.5 percentage point and 0.1 percentage point from March. In third-tier cities, they gained 11.3 percent, compared with 11.2 percent growth in March.

In the pre-occupied residential market, prices climbed 0.8 percent, 8.3 percent and 8.4 percent in first, second and third-tier cities, respectively, compared with 0.5 percent, 8.2 percent and 8.4 percent growth registered a month earlier, the bureau said.

Ref: Property Report