Statistics

China's property climate index up for sixth straight month

(Xinhua)
Updated: 2009-10-16 14:11

China's national property climate index, which reflects overall conditions in the sector, rose to 101.08, up 1.00 point from August, the National Bureau of Statistics (NBS) said in Beijing Thursday.

China's property climate index up for sixth straight month

[Source: Website of the National Bureau of Statistics]

It was the sixth consecutive month that the index has seen month-on-month growth, suggesting a rebound in the sector. The index had been falling from its peak of 106.59 since November 2007.

A reading of above 100 is positive while a figure below that level indicates weak conditions.

Real estate investment nationwide rose by 17.7 percent in the past three quarters from the same period last year. The growth rate was 3 percentage points higher than the January-August level, according to the NBS.

Commercial house sales rose 44.8 percent year-on-year in the past three quarters, 1.9 percentage points higher than the January-August level.

Home prices in 70 large and medium-sized Chinese cities rose 2.8 percent in September from the same period last year.