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More Chinese cities post housing prices decline

07-19-2012 09:46 BJT

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China's National Bureau of Statistics released fresh figures on housing prices Wednesday. The data shows that average home prices fell 1.5 percent in June from the same period last year. Before the release, there had been reports suggesting that the June data could show a month on month rebound in prices.

The June housing numbers showed that more cities posted year-on-year declines in average housing prices. June had 57 cities posting declines, 2 more compared to May and up from 38 and 46 cities in March and April respectively.

Month-on-month however, the number of cities that saw price increases SURPASSED the number of cities with price declines. Economists say that supportive measures for genuine demand and bearish stock markets have helped boost the pick-up of housing market investment and activity.

As for the curbs on the housing market, there are expectations that the government will maintain tight property measures for the rest of the year, but support will continue for genuine demand, and that will reduce downside risks in property stocks.


Editor:Bai Yang |Source: CNTV.CN

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