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M
ore major cities in China saw
home prices rise in June from
May, as the country's property sector has showed signs of warming following government efforts to stimulate the slowing economy, official data showed Wednesday.
In June, 25 cities, drastically up from six in May, out of a statistical pool of 70 major cities recorded higher new home prices than in the previous month, the National Bureau of Statistics (NBS) said in a statement.
Twenty-one cities saw drops in new home prices last month, down from 43 in May, while prices in 24 cities remained the same, according to the NBS data.
It marked the first time since September 2011 for the number of cities with price increases to exceed the number of cities that experienced drops, although the rises in the 25 cities were all less than 0.6 percent.
"China's efforts to control the property sector are still in a crucial stage and the task remains arduous," said Ma Xiaoming, a senior NBS statistician.
He attributed the price rises to recent interest On a year-on-year basis, new home prices continued the downward trend, with 57 cities out of 70 seeing prices decline in June, expanding from 55 in May, the NBS data showed.
New home price fell 0.8 percent on annual basis, a drop ranked at 17th in the 70 cities. This is the second month in a row that the city saw home price shrink. And Wenzhou (15.8 percent), Hangzhou (9.8 percent), Ningbo (8 percent), Jinhua (6.3 percent) and Qingdao (4.3 percent) saw the biggest decrease in housing price.
Despite month-on-month rebounds in some cities, the government's property controls have produced obvious results and effectively curbed the rising momentum of home prices, Ma said.
He urged continuing the property controls unswervingly and making it a long-term policy to curb speculative and investment demand. |
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