China property news: Prices up 2% in August

Country:  China

21 September 2009

The average price of a China property in the country’s 70 large and medium-sized cities appreciated by 2% in August 2009 compared to the same month last year, according to data from the National Bureau of Statistics.

On a monthly basis, price rose by 0.9% from July, when residential increased 1% from the same month in 2008.
Prices of new houses in China last month increased 1.5% from the same month last year, and 1.1% from July. The growth rate was 1.2% higher than in July.

Housing prices in certain cities, including Ningbo in the east, and Yinchuan and Xining in the northwest, rose more quickly than in other cities. August prices in the three named cities rose respectively 7.4%, 6.8%, and 4.9% from the same month last year.

In August, prices of second-hand houses in the 70 cities rose 3.6% compared to the same month in 2008, and 0.6% from July.

See Also:   China, Marc Da-Silva, Overseas property investment news