It's Happening....
House price continues to decrease
- Details
- Category: Governmental News
- Published: Tuesday, 24 February 2015 12:36
The State Statistics Bureau released the "changes of residential housing sales price in 70 major cities in January" on February 17. Statistics show that in January 2015, the price of the new housing dropped by 6.2% over the same period of the last year. However, compared with December 2014, the price of the new housing dropped by 0.2%, a smaller drop rate in comparison with the previous months.
According to the statistics, among the 70 major cities, 64 cities witnessed price drop of new housing in January (66 in December 2014), four cities maintained the price and two saw drop of housing price, showing a clear price differentiation. Specifically speaking, the price drop of the new housing in January is 0.3 percentage point lower than that of the previous year, showing a narrowing drop trend.
Compared with the previous year, only one of the 70 major cities sees price increase and housing price of all the other cities dropped, including Ningbo. Statistics show that in January the price of the new housing dropped by 6.2%, 0.6 percentage point higher than the drop of the previous year.
To be specific, the prices of the houses with the area of 90 square meter and below, that of 90 to 144 square meters and that of 144 square meters and above dropped by 0.6%, 0.3% and 0.1% respectively.
In addition, the price of the housing in six cities in January is lower compared with the housing price before the "purchase limits policy" in 2010, and they are Wenzhou, Hangzhou, Ningbo, Haikou, Jinhua and Tangshan.
