MNI: China November New-Home Prices Heat Up Y/Y

     New-home prices in China rose in 50 out of 70 cities on a month-on-month

basis in November, the National Bureau of Statistics reported Monday. That was

unchanged from the 50 cities reporting rises in October and 44 in September.

     New-home prices fell in 10 cities month on month, compared with 14 in

October and 18 in September, excluding subsidized housing. Prices were unchanged

in 10 cities, compared with six in October and eight in September, the NBS said.

     On a year-on-year basis, new-home prices rose in 59 cities, compared with

60 in October.

     Housing price growth decelerated in 25 of 70 cities in November on a

month-on-month basis, compared with 25 in October. The cities showing

decelerating price growth included two of four Tier-1 cities, nine of 31 Tier-2

cities and 14 in 35 Tier-3 cities, according to MNI calculations.

     Housing price growth accelerated month on month in 43 cities, compared to

39 in October, and remained the same in two cities, compared to six the month

before. 

     On a year-on-year basis, housing price growth decelerated in 32 of the 70

cities in November compared with 51 in October. Price growth accelerated in 36

cities, compared to 17, and remained unchanged in two cities, compared to two.

     Of the cities showing year on year price growth decelerations, two were in

Tier-1 cities, 11 were in Tier-2 and 19 were in Tier-3 cities.

     Many Chinese cities, mostly Tier-1 and Tier-2, have enacted new restriction

on the housing market since October last year to combat a sharp rise in housing

prices. The central government has also sought to tighten regulation of property

financing to limit housing speculation.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com

--MNI Beijing Bureau; +86 (10) 8532-5998; email: rich.dirks@marketnews.com

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