The average price of homes in Shanghai dropped by 1.1 percent year-on-year in the third quarter of this year, while prices rose in 69 other major cities around the country.

In the 70 cities monitored, the average price of homes rose 5.5 percent from July to September compared with the same period last year.

The government enacted a string of control policies in May on credit and loans to curb the over-heated property market, which had limited effect. The growth rate in the third quarter of the year is 0.2 percentage points lower than the previous quarter.

The price of homes in Shenzhen, Guangdong Province rose by 12.8 percent from a year ago, the biggest rise during the quarter. Housing prices rose by 8.5 percent in northeast Dalian City and eight percent in southeast Xiamen City. Housing prices rose 6.7 percent in the 70 cities compared with the second quarter of the year.

New home prices in Shanghai dropped by 2.3 percent from the second quarter. The only other major city to post a decline was Dandong in Liaoning Province, where prices dropped a mere 0.1 percent.

The price of second-hand homes in 67 of the cities increased 4.5 percent from the same period last year, but the growth rate slowed by 1.3 percentage points from the second quarter. Dalian saw the price of second-hand housing increase by 14 percent, while prices in Shenzhen rose 13.3 percent.

Changing Home CostsA survey of 70 major cities found the average price of homes rose by 5.5 percent from July to September, compared with the same period last year.

Source:佚名