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Subject: China's property sector continued to recover but at a slower pace in June, with fewer cities reporting month-on-month rises in new home prices, an…
Excerpt: English text from the archived bilingual edition · Chinese edition
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China's property sector continued to recover but at a slower pace in June, with fewer cities reporting month-on-month rises in new home prices, an official survey showed last Monday
Of 70 large and medium-sized cities surveyed in June, 55 saw new home prices climb month on month, down from 60 the previous month, the National Bureau of Statistics (NBS) said
Meanwhile, 10 cities reported month-on-month price declines, up from four in May, according to the NBS data
On a yearly basis, 57 cities posted new-home price increases and 12 reported falls in June, compared with 50 and 18 in May
New-home prices soared 47.4 percent year on year in the southern city of Shenzhen, the sharpest increase in June among all the major cities. But the growth was milder than the 54 percent jump registered in May
Prices in the top-tier cities of Shanghai, Beijing and Guangzhou rose 33.7 percent, 22.3 percent, and 19.4 percent year on year, respectively. The northeastern city of Jinzhou saw the steepest price decline of 3.5 percent over a year earlier
Overall, home-price growth has slowed, with the average month-on-month increase for new homes narrowing 0.1 percentage points and that for existing homes contracting 0.2 percentage points, according to NBS senior statistician Liu Jianwei
Both top-tier cities and smaller cities saw milder month-on-month growth in June than in May, and the year-on-year growth also eased, Liu said
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