Prices of new homes in top cities see higher growth in Dec

SHANGHAI, Jan 16 (SMM) – Across first-tier cities such as Beijing, Shanghai, Guangzhou, growth in prices of new homes expanded in December, but prices of resale homes continued to fall, both on a monthly basis, showed data from the National Bureau of Statistics (NBS) on Wednesday January 16. 

Improved transactions of new homes at the year-end buoyed prices in top cities. However, growth of prices in new and resale homes in second-tier cities such as Nanjing and Hangzhou, eased on the month in December, NBS data showed. 

In December, growth in prices of new homes across third-tier cities held steady from a year ago, while growth in prices of resale homes accelerated. 

Among 15 major cities, three cities saw lower prices of new homes in December, with the biggest drop at 0.4% Prices of new homes in 12 cities gained on the month, with the highest gain at 3%.

On a yearly basis, prices of new homes increased in 14 out of 15 cities, with the highest growth at 15.9%.