2016年CRI China home price growth slows with further curbs

 

New stats from the National Bureau of Statistics are suggesting the property market in China's major cities has begun to stabilize¹ through this past month.

Of the 70 large and medium-sized cities surveyed by the NBS, 55 saw new home prices increase month on month in November.

This is down from 62 in October.

Authorities are pointing to local policy moves as one of the main reasons for the slowdown.

Zhang Dawei, Chief analyst² with Centaline Property, is suggesting the market has hit a 'turning point.'

"Judging from the statistics, after soaring for nine consecutive³ months, housing prices have suddenly taken a turn. November home prices saw obvious month-on-month decreases. Among 15 major cities, 11 have seen home prices either decrease or stay unchanged. During both October and November when authorities began putting in new price control policies, around 50 cities saw price growth narrow compared with September."

In Beijing, new residential⁴ home prices stayed unchanged from a month earlier, while in Shanghai prices dipped 0.1 percent.

Since October, dozens of Chinese cities have announced new measures, including purchase limits and tightened⁵ mortgage restrictions⁶, in an attempt to prevent prices from rising out of control.

Overall, residential home prices in first-tier cities did edge up 0.1 percent in November on a monthly basis.

This is a reduction from the 0.4-percent rise seen through October.

While a recovery of the property sector⁷ has been a significant driver of growth this year, policymakers now find themselves walking a fine line between allowing the growth to continue, while at the same time, trying to prevent an asset bubble from becoming a risk to the broader economy.

Chinese President Xi Jinping and his top economic policy makers⁸ have pledged steps to prevent an asset bubble at their annual economic conference on Friday.

A statement from that meeting has made this clear, with authorities emphasizing that "Houses are built to be inhabited, not for speculation⁹."

The statement goes on to say that finance, land, taxes and other instruments are going to be used to establish a "fundamental and long-term system" to curb¹⁰ asset bubbles and market volatility¹¹.

Yang Hongxu, senier analyst with E-house China, says they're predicting housing sales are likely to decline next year.

"In 2017, generally speaking, policy controls will be comparatively tight in cities where housing prices have been rising sharply. And the policy could be consistent in 2017, which means home prices in major cities are likely to begin dropping significantly next year."

Some observers are suggesting home prices in first and second tier cities are poised¹² to decrease between 10 to 15 percent this coming year.

1 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

2 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

3 consecutive   

adj.连续的，联贯的，始终一贯的

参考例句：

• It has rained for four consecutive days.已连续下了四天雨。
• The policy of our Party is consecutive.我党的政策始终如一。

4 residential   

adj.提供住宿的；居住的；住宅的

参考例句：

• The mayor inspected the residential section of the city.市长视察了该市的住宅区。
• The residential blocks were integrated with the rest of the college.住宿区与学院其他部分结合在了一起。

5 tightened   

收紧( tighten的过去式和过去分词 )； （使）变紧； （使）绷紧； 加紧

参考例句：

• The rope holding the boat suddenly tightened and broke. 系船的绳子突然绷断了。
• His index finger tightened on the trigger but then relaxed again. 他的食指扣住扳机，然后又松开了。

6 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

7 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

8 makers   

n.制造者，制造商（maker的复数形式）

参考例句：

• The makers of the product assured us that there had been no sacrifice of quality. 这一产品的制造商向我们保证说他们没有牺牲质量。
• The makers are about to launch out a new product. 制造商们马上要生产一种新产品。 来自《简明英汉词典》

9 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

10 curb   

n.场外证券市场，场外交易；vt.制止，抑制

参考例句：

• I could not curb my anger.我按捺不住我的愤怒。
• You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。

11 volatility   

n.挥发性，挥发度，轻快，（性格）反复无常

参考例句：

• That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
• Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。

12 poised   

a.摆好姿势不动的

参考例句：

• The hawk poised in mid-air ready to swoop. 老鹰在半空中盘旋，准备俯冲。
• Tina was tense, her hand poised over the telephone. 蒂娜心情紧张，手悬在电话机上。