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(Yicai Global) Nov.15 -- China's property markets, particularly those of large and medium-sized cities, started showing signs of cooling in October.
New home prices in China's four largest cities, Shanghai, Beijing, Shenzhen, and Guangzhou, have risen by 0.1 percent from September, according to data from the National Bureau Statistics. That was a 0.3 percentage point smaller increase from a month earlier.
Existing-home prices in these cities also rose by 0.1 percent, yet showing a 0.2 point narrower pace of growth than from August to September.
Among the more than 30 second-tier cities, new home prices climbed by 0.5 percent whereas existing home prices increased by 0.1 percent, both 0.1 point slower from a month earlier.
Within some 35 smaller cities, new home prices expanded by 0.6 percent and the prices of exiting ones increased by 0.5 percent. Both were 0.2 point less than before.
When compared to last year, only the four largest cities logged an accelerating clip of price hikes. Their new home prices rose by 4.7 percent from October 2018. The pace of growth increased by 0.1 point in comparison to a data set for the past two Septembers. Existing homes were sold at a 0.5 percent higher price from a year earlier, a 0.4 point hike in growth.
Second-tier cities added more to prices than others but growth still ebbed. These cities boosted new home prices by 8.7 percent from a year ago. However, that was 0.6 point less than the earlier growth rate. Existing homes showed a similar trend.
Editor: Emmi Laine