SHANGHAI'S second-hand housing market was stable in April, ending its one month rally with transactions shrinking a bit and prices rising mildly.

The second-hand housing index, which covers prices of used apartments across the city and released monthly by www.ehomeday.com, rose 1.03 percent, or 24 points, to 2,339 in April. It advanced 1.3 percent in January, climbed 1.1 percent in February and added 1.96 percent in March.

"Its recovery in March didn't last long as its growth pace slowed again, which indicated that sentiment was still weak,'' said Chi Shengyu, an analyst with the index compiler. "Both buyers and sellers are waiting for a clearer market signal and many of them are choosing to postpone their transactions.''

Citywide, second-hand home prices in downtown Huangpu District continued to lead gainers for a second consecutive month with an average increase of 2.95 percent. In particular, used apartments in the area around the City God Temple jumped the most, up 3.38 percent from March. The downtown districts of Jing'an and Xuhui followed with month-on-month increases of 2.26 percent and 2.06 percent, respectively. In particular, W\west Nanjing Road and Xujiahui areas climbed the most in the two districts, up 3.68 percent and 2.82 percent.

Meanwhile, mild corrections were found in some residential areas including Zhongyuan in Yangpu District, sliding 0.25 percent, and Caoyang and Changfeng, down 0.64 percent, and Taopu in Putuo District retreated 1.45 percent.

The Website's local rental index rose 1.4 percent, or 17 points, to 1,203 last month.

The average monthly rent for high-end apartments, usually more than 6,000 yuan (US$857) for a two-bedroom unit, gained 1 percent, with Xinhua Road and Xujiahui topping gainers.

Mid-class properties of 2,000 yuan to 6,000 yuan per month for a two-bedroom unit climbed 2.1 percent from a month earlier.