The year-on-year growth rate of China's home prices last month
hit a two-year high, a senior official in the nation's top planning
body has said.
The average home price in 70 major cities rose 10.5 percent last
month compared with a year ago, and average new home prices grew
12.2 percent year-on-year, Cao Changqing, head of the pricing
department at the National Development and Reform Commission, said
yesterday in an online interview.
But Cao did not reveal last month's growth rate over October.
The average housing price in these cities has increased six
consecutive months, including November.
In the first 11 months of this year, home prices in 70 cities
increased 7.3 percent from the previous year, while new residences
jumped 7.9 percent.
Shenzhen and Guangzhou's home prices began to drop gradually
after hiking in previous months, while home sales in popular areas
such as Beijing, Shanghai, Shenzhen and Guangzhou have decreased,
Cao said.
Property policies will meet the demands of people and home
prices will be kept stable in future, Cao added.
Prices of about one third of Shanghai's residential projects
available for sale have risen more than 30 percent over the past 12
months, a survey released yesterday by a local industry researcher
found.
(Shanghai Daily December 14, 2007)
