Housing prices headed up: survey

09:43, September 20, 2010      

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An increasing number of Chinese think house prices will rise further, but fewer bankers expect pre-emptive monetary policy tightening, according to a quarterly survey by the People's Bank of China released Sunday.

  Out of some 20,000 consumers surveyed, 36.6 percent replied that property inflation would continue to accelerate, up from 29.4 percent in the previous poll published in June.

  In a separate survey of bankers from 2,900 branches, 63.9 percent of respondents said monetary policy would remain unchanged in the next quarter, up from 51.4 percent in the second quarter.

  In the same vein, 69.4 percent of the bankers said the current monetary policy stance was appropriate. The figure was 11.5 percentage points higher than in the previous poll.

  Beijing launched a series of measures in April, including higher down payments, to deter speculative property buying.

  Real estate prices in 70 key cities were flat in August and July, resulting in a drop in the annual rate of property inflation, according to official statistics.

  But anecdotal evidence is mounting of a rebound in transactions and prices as the impact of the curbs fade.

Source: Global Times

(Editor:黄蓓蓓)

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