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    Default China house prices creating headaches

    China house prices creating headaches

    Date June 18, 2013 - 3:46PM


    China's house prices rose at the fastest pace this year in May from a year earlier, though the pace of monthly gains slowed, highlighting the dilemma facing the central bank as it balances the need to support the economy against holding down housing inflation.
    Average new home prices in 70 major Chinese cities in May rose 6 per cent from a year earlier, after a two-year high of 4.9 per cent in April, according to calculations from data released by the National Bureau of Statistics (NBS) on Tuesday.
    The rise was the sharpest since January 2011 when Reuters started to calculate the nationwide data.
    Liu Jianwei, a senior statistician at the NBS, said however that easing month-on-month gains showed fresh signs of home price rises losing momentum in May, as existing government steps to cool the property market bite.



    Read more: http://www.smh.com.au/business/world...#ixzz2WXroomzm
    Last edited by donna; 30-06-2013 at 02:01 PM.
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx


 

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