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Beijing Continues to Lead China’s Housing Price Rally in Sept.

10-22 14:30 Caijing
Prices of newly-built residential houses in 69 of the 70 Chinese cities monitored rose in September on a yearly basis with Beijing taking the lead with a 20.6 percent growth

Rally in China's home price continues to gain momentum led by Beijing which has seen a rise of over 20 percent, said the National Bureau of Statistics (NBS) on Tuesday.

Prices of newly-built residential houses in 69 of the 70 Chinese cities monitored rose in September on a yearly basis with Beijing taking the lead with a 20.6 percent growth and Shanghai following closely with 20.4 percent.

Wenzhou in east China's Zhejiang Province is the only city that has seen lower home prices compared with the same period of the last year.  Average newly-built residential houses price in Wenzhou dropped 1.8 percent from a year ago. 

Average new home prices in the 70 major cities in September rose 9.1 percent from a year earlier, according to Reuters calculations based on NBS's data.

On a monthly basis, only 2 of the 70 cities reported declines in new homes in September while three cities remained flat.

Beijing also led the rises in second-hand home prices with a 17.8 percent year-on-year jump while prices in second-hand homes in 63 cities went up from a year earlier.

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