Growth Of China’s Home Prices Slows further In April

New home prices (excluding affordable housing) in 44 cities among 70 medium-to-large-sized Chinese cities increased on a month-on-month basis in April, according to data released by the National Bureau of Statistics.

Home prices remained unchanged from last month in 18 cities, while eight cities saw price drops.

The figures add to the signs of cooling in the property market. Fifty-six cities witnessed price increase in March, and the number was 57 in Feb.

On a year-on-year basis, 69 cities showed increases. Only the eastern city of Wenzhou saw a decline.

Home prices in Beijing were up 11.2% in April from a year earlier, compared with March’s increase of 13.0%.

In Shanghai, home prices rose 13.6% from a year ago, versus 15.5% growth in the previous month.

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