Housing price index report of 100 major cities in Oct. was released by China Index Academy (CIA) on Oct. 11th, 2016. The report revealed that the average price of newly-built houses in these cities was ￥12,825/m² with a month-on-month growth rate of 1.65%, of which the growth amount decreased 1.18% compared with the last month. Moreover, the average price of newly-built houses in Yichang reached ￥5,610/m² with a month-on-month growth rate of 1.59%, of which the growth amount rose 1.12% compared with the last month.
In terms of the number of cities, housing price in 79 cities rose on a month-on-month basis, 2 cities fewer than Sep. Among the 79 cities, housing price in Wuhu and Changsha ranked the top two with a month-on-month increase of over 4%. The average house price in Wuhan reached ￥10,846/m², a month-on-month increase of 2.48%. On the other hand, housing price in 21 cities decreased on a month-on-month basis, 3 cities more than Sep. The fastest decline was in Jinhua: 2.06%.
CIA pointed that in October the demand of irrational speculations was choked off, resulting in the drop of housing transaction volumes in hot cities. In view of housing prices, markups of housing price in the 100 cities slowed down obviously in Oct, and the number of cities with increasing housing prices had dropped. Moreover, the majority of hot cities underwent a retreat of housing price markup and some of them witnessed a sharp drop. In the future, more effective policy regulations will be released to gradually realize the rational demand and supply in the housing market. And the housing price is expected to be more stable by the end of this year. (Journalist Chen Lu)