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在线翻译:
szdaily -> Business/Markets -> 
Home price growth fastest in 5 months
    2019-06-19  08:53    Shenzhen Daily

NEW home prices in China rose at their fastest pace in five months in May, complicating government efforts to keep housing markets under control as it rolls out more stimulus for the slowing economy.

Average new home prices in China’s 70 major cities rose 0.7 percent in May from the previous month, picking up from a 0.6 percent rise in April and the quickest pace since December, according to media calculations based on National Bureau of Statistics (NBS) data yesterday.

That marked the 49th straight month of price gains. Sixty-seven of the total 70 cities surveyed by the NBS reported higher prices in May, the same as April.

On an annual basis, home prices increased 10.7 percent in May, unchanged from April’s growth rate.

Top officials including Guo Shuqing, chairman of China’s banking regulator, have warned in recent weeks that policymakers must remain vigilant about property bubble risks.

“History has proven that countries and regions that are overly-reliant on real estate for economic development will ultimately have to pay a heavy price,” Guo told a forum in Shanghai last week.

The average interest rate on first home loans continued to drop in May to the lowest level since 2018, according to a market report cited by Economic Information Daily.

New household loans — mainly mortgages — still remained elevated, totaling 662.5 billion yuan (US$95.70 billion) in May, and accounting for 56.14 percent of total new loans last month.

Higher prices were mainly driven by the smaller tier-3 cities, up 0.8 percent on a monthly basis compared with a 0.5 percent gain in April, the statistics bureau said in a note accompanying the data.

Prices in China’s four top-tier cities — Beijing, Shanghai, Guangzhou and Shenzhen — saw slower growth in May, increasing 0.3 percent versus 0.6 percent growth in the previous month.

Tier-2 cities, which include most of larger provincial capitals, grew 0.6 percent, unchanged from the rate a month earlier.

Xi’an, the capital of Shaanxi Province with a population of over 7 million, became the top market performer in May, with prices surging 2 percent month on month.(SD-Agencies)

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