BEIJING Oct 9 Average home prices in China's
100 big cities edged up for a fourth straight month in
September, a private survey showed, reinforcing signs of a mild
recovery as the government seeks to boost growth while avoiding
a real estate bubble.
Average home prices rose 0.17 percent to 8,753 yuan
($1,400)per square metre in September, moderating from August's
month-on-month increase of 0.24 percent, the China Real Estate
Index System (CREIS) said.
A steady rise in home prices will, however, renew concerns
about property inflation that could prompt Beijing to further
tighten property controls in the run-up to a once-a-decade
leadership transition this year.
Property prices flared up after the central bank cut
interest rates twice in June and July to restore momentum to the
world's second largest economy.
A housing ministry official said last month that Beijing
will stick to its tight property sector policies to curb price
rises, and a nationwide rebound remains unlikely.
"Seeing no let-up in property controls, most developers have
launched more new projects and set home prices cautiously in
September," said CREIS, a consultant affiliated to China's
largest online real estate firm Soufun Holdings.
Compared to a year ago, however, home prices in the 100
cities are still down 1.4 percent in September, the sixth month
of year-on-year declines since June 2011, when CREIS began
calculating year-on-year changes.
In China's top 10 cities, including Beijing and Shanghai,
average home prices rose 0.22 percent from August, but were down
1.35 percent from a year ago, the survey showed.
The Chinese government is due to publish September home
prices in 70 major Chinese cities on October 18. Home prices in
these cities rose 0.1 percent in August from July, extending a
modest increase into a second straight month.