Prices of New Houses Showing Signs of Slowing Down
Average prices of a new home in china are showing signs of slowing down last November. A private sector survey is showing that several cities is dealing out new properties cooling measure in recent weeks. Home prices in a hundred cities have slowed down for the first time in a month to month basis after speeding up in the past four months.
China Real Estate Index System provided data on prices that showed a price increase in home prices by .68 percent in October while increasing 1.24 percent compared in September. Policymakers are avoiding further risks of having a sharper correction in the line and will be implementing a price cooling measure that will vary city to city.
In the past weeks a lot of midsize cities rolled out property curbs to help rein in the rapid increase in house prices after following steps that was taken by several rich cities in China which curb higher down payments to at least 70 percent for 60 percent.
While in another survey showed that more cities in China are also showing signs in the increase of new home prices is slowing down as well. Prices of these new homes are tracked by e-house China a real estate provider which reported a .77 percent increase in the months of October to November this year compared to the 10.5 percent increase in the same period of last year.