Published: 12:44, May 18, 2022 | Updated: 13:06, May 18, 2022
China's home prices continue to ease in April
By Xinhua

This undated photo shows the construction site of an affordable rental housing project in Hefei, Anhui province. (RUAN XUEFENG / FOR CHINA DAILY)

BEIJING - China's housing market continued to ease in April, with second-tier and third-tier cities seeing a decline in home prices, according to the National Bureau of Statistics Wednesday.

New home prices in four first-tier cities — Beijing, Shanghai, Shenzhen and Guangzhou — edged up 0.2 percent month-on-month in April, moderating 0.1 percentage points from that in March, according to the NBS data.

A total of 31 second-tier cities witnessed a month-on-month decline of 0.1 percent in new home prices, while 35 third-tier cities saw a month-on-month decline of 0.6 percent in new home prices

Prices of resale homes in the four cities inched up 0.4 percent month-on-month, unchanged from the growth in March.

A total of 31 second-tier cities witnessed a month-on-month decline of 0.1 percent in new home prices, while 35 third-tier cities saw a month-on-month decline of 0.6 percent in new home prices.

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Wednesday's data showed that the resale home prices in second-tier cities edged down 0.3 percent on a monthly basis, while those in third-tier cities went down 0.3 percent month-on-month.

Home prices in the 70 major cities demonstrated an overall easing trend as the number of cities that notched a decrease in home prices increased, said the bureau's senior statistician Sheng Guoqing, adding that on a year-on-year basis, these cities saw their housing prices decline or register slower growth.

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On a year-on-year basis, new home prices in first-tier cities rose 3.9 percent in April, narrowing 0.4 percentage points from that in March. New home prices in second-tier cities went up 1 percent year-on-year and those in third-tier cities decreased 1.5 percent year-on-year.