(Reporter: Chen Lu) On Dec 12, the China Real Estate Index System released the results based on a full sample survey on residences (newly built) in 100 cities, which shows that: in November, the average price of the newly built residences in the 100 cities is 12,938 yuan / square meter, a month-on-month growth of 0.88%. compared with last month, the growth ratio dropped by 0.77%. The average price of the newly built residences in Yichang is 5,671 yuan / square meter, a month-on-month growth of 1.09%. compared with last month, the growth ratio dropped by 0.5%.

 

　　In terms of the number of cities, 75 cities witnessed a month-on-month growth, and 19 cities saw a month-on-month decrease, and still 6 cities remained unchanged in terms of average housing price. The highest ratio in terms of month-on-month growth on is 2.71%, and the lowest is 1.57%. The reporter noted that in November, Nantong, Nanning, Foshan and other second or third-tier cities ranked the top in the growth ratio. The housing prices in those first or second-tier cities such as Beijing, Shanghai, Nanjing which used to soar have been going down. The average price of the newly built residences in Wuhan is 10,976 yuan / square meter, a month-on-month rise of 1.2%. compared with the last month, the growth ratio dropped by 1.28%.

 

　　The China Index Research Institute points out that with the implementation of a series of regulatory policies in those hot cities, the regulatory effects of the property market have been consolidated and will be continuously reinforced. From the demand side, the housing turnover has continued to show a month-on-month downward trend in the key cities, with part of cities falling sharply; from the supply side, the real estate enterprises have slowed the steps in building and selling of  new houses, and the new project prices are also lower than that the evaluated prices. In November, the month-on-month growth ratio of the housing price in the 100 cities dropped to 0.88%, and the housing prices in most cities have become more stable.

 

　　At the end of this year, the real estate transactions are expected to continue declining. With the effects of regulations done by the governments becoming more obvious, the housing prices will become more stabilized.