Prices of new homes in China's 10 key cities rose in October for fifth consecutive month, declined 0.44% year-over-year, finds survey

BEIJING , November 5, 2012 (press release) – Housing prices in China's 10 key cities rose further in October, the fifth consecutive monthly increase this year, according to a survey released by the China Index Academy on Monday.

The average price of new homes in the 10 cities including Beijing and Shanghai increased 0.33 percent month on month, though the figure is down 0.44 percent on a yearly basis.

But the growth rate of prices of second-hand housing decelerated to 0.15 percent on a monthly basis in October, with six cities seeing prices drop.

Average housing rents fell 1.08 percent on a monthly basis and almost all of the 10 cities, except Chengdu, saw rents fall in the past month.

The survey was conducted by China's online real-estate information provider SouFun Holdings. (Edited by Ding Lei,

(c) 2012 Xinhua News Agency

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