Housing prices rise in just 2 cities

A month-on-month rise in home prices was registered in just two cities in July, a national survey showed yesterday — further evidence China's housing market was correcting.

The number of Chinese cities where prices fell from a month earlier rose to 64 in July from 55 in June, according to a statement released by the National Bureau of Statistics, which tracks housing prices in 70 major cities.

Prices were flat in four cities, down from seven in June, the bureau's data showed.

“Amid continuously uncertain prospects in the real estate market, homeseekers across the country continued to take a wait-and-see attitude, a reason behind the further momentum easing,” said Liu Jianwei, a senior statistician at the bureau. “While 65 cities continued to record price gains on a year-on-year basis, all of them saw slower growth.”

The national housing price fell an average of 0.9 percent month on month in July, the third straight monthly drop since June 2012.

Nationwide, Hangzhou again led decliners as home prices in the capital of Zhejiang Province shed 2.5 percent from June. It was immediately trailed by Sanya in Hainan Province where prices fell 2.4 percent from a month earlier.

Xiamen in Fujian Province and Dali in Yunnan Province were the only two cities where home prices grew monthly by 0.2 percent and 0.1 percent, respectively, the bureau said.

In Shanghai, Beijing, Guangzhou and Shenzhen, new home prices in July fell 1.4 percent, 1.3 percent, 1.3 percent and 0.6 percent, respectively, from June.

On an annual basis, home prices rose in 65 of the 70 cities in July, down by four from June. Prices fell in Wenzhou, Hangzhou and Shaoguan in Guangdong Province from a year earlier while the remaining two cities saw flat prices.

The national housing price rose 2.6 percent year on year, slower from a 4.3 percent annual gain in June.