House Prices In China Climbed

House Prices In China Climbed  in December, especially in the cities, especially small ones, after the authorities launched the easing measures targeting areas with a surplus of unsold houses.

New home prices climbed in 39 cities, compared to 33 cities in November, among the70 cities tracked by the Government, the National Bureau of statistics announced on Monday (6/01). Home prices down in 26 cities, compared to 27 cities in November,and have not changed in five cities.

China's Politburo, the Communist Party's top decision makers, last month pledged to reduce the supply of homes as one of the main tasks in 2016, prompting expectations of easing measures further. The area of new homes sold increased 12 percent from the previous year into 441 million square meters (4.7 billion square feet) on November 30, according to the latest data available from the Bureau of statistics.

The difference between regional cities "was very clear," said the Bureau of statistics in a statement released with the data. "The rise in house prices in the first level of the city and some of the popular second-tier cities are clearly greater than in another,while prices are still falling in most parts of the city."

The price of a new home in the southern business center of Shenzhen surged 3.2 percent from the previous month, the fastest pace since October. The financial center of Shanghai still lags from Shenzhen to increase 1.9 percent, the fastest in six months.Prices of both those cities jumped 47 percent and 16 percent from the previous year.0.4 per cent price rises in the capital Beijing and 0.7 percent in Guangzhou.

The Central Bank has slashed interest rates six times since January, 2014, along with the poor in terms of backup for all banks, helping to bring mortgage rates down tothe lowest level in private in five years, according to Centaline Group. Adding to thedecline in credit last year, the central bank also reduced the payment requirements forfirst and second home purchases, allowing prospective buyers to borrow further.

House Prices In China Climbed  in 2016 . Prices go up year after year in 21 cities from the previous month, the same as in November, the Statistics Bureau said Monday. Existing home prices rose last month atthe city's 37 from the previous month, compared to 40 cities in November.