New home prices fall in 21 cities in June versus 40 in May
* Market expects home price to rise in H2 -Reuters poll
BEIJING, July 18 (Reuters) – China home prices were flat in June versus May, calculations based on official data showed on Wednesday, breaking eight straight months of decline in a tentative sign that pro-growth government economic policies are gaining traction.
Real estate was cited by the National Bureau of Statistics last week as a restraint on economic activity in the first half of 2012 when it published data revealing Q2 GDP growth of 7.6 percent from a year ago – the slowest expansion in more than three years and the sixth successive quarter of easing growth.
The statistics bureau’s month-on-month data showed Beijing home prices rose 0.3 percent while Shanghai’s gained 0.2 percent, although the two key cities saw year-on-year price falls of 1 percent and 1.5 percent, respectively.
Home prices nationwide were down 1.5 percent in June on a year earlier, according to Reuters calculations based on the official data.