中國10月房價止跌企穩 China property prices turn positive

Chinese home prices have finally stabilised after more than a year of price declines, according to China's National Bureau of Statistics.

根據中國國家統計局(NBS)的數據，中國住宅價格終於在下跌一年多後企穩。

According to calculations by Reuters, new home prices in 70 large cities were up by an average 0.1 per cent year-on-year, improving from a 0.9 per cent decline in September, a 2.3 per cent decline in August and a 3.7 per cent decline in July.

根據路透(Reuters)的計算，今年10月份，中國70個大中城市的新建住宅價格平均同比上漲0.1%，9月、8月和7月分別爲下跌0.9%、下跌2.3%和下跌3.7%。

In March and April they deflated at a record pace of 6.1 per cent, the biggest drop since the data series started in 2011.

今年3月和4月，新房價格曾經創紀錄的下跌6.1%，爲自2011年開始編制該數據以來最大跌幅。

The positive figure reinforces a shift in asset allocation seen since the early summer, when China's equity market collapsed by two-fifths, sending investors back into the open arms of the property market.

數據企穩突顯出自今年夏初以來的資產配置變動，當時中國股市暴跌五分之二，促使投資者將資金投入房地產領域。

Month-to-month prices rose 0.2 per cent on average, a sixth straight gain.

新房價格平均環比上漲0.2%，爲連續第6個月上漲。

Top-tier cites continue to drive the improvement. In fact, of the 70 cities, prices rose in just 27 from the previous month, halting a trend that had seen gains for 39 cities in September, 35 in August and 31 in July.

一線城市繼續引領漲勢。實際上，在70個大中城市中，只有27個城市的房價較上月出現上漲，而9月、8月和7月的上漲城市數量分別爲39個、35個和31個。

Home prices in Shanghai were up 10.9 per cent year-on-year, up from 8.3 per cent in September. In Beijing, prices were up 6.5 per cent, up from 4.7 per cent in September. Not to be outdone, home prices in Shenzhen were up 39.9 per cent, versus 37.6 per cent in September.

上海房價同比上漲10.9%，9月爲上漲8.3%。北京房價同比上漲6.5%，9月爲上漲4.7%。深圳房價更是同比上漲39.9%，9月爲上漲37.6%。

Home prices have received a boost recently from a variety of policy measures. The People's Bank of China has cut benchmark interest rates six times in the last 12 months. Moreover, the down-payment ratio in the government-sponsored Housing Provident Fund was cut from 30 per cent to 20 per cent, on second-home purchases, in September.

最近一系列政策措施提振了房價。過去12個月，中國央行(PBoC)6次降息。另外，9月，政府補貼的住房公積金貸款二套房首付比例從30%降至20%。

The minimum down-payment for first-time buyers was also cut from 30 to 25 per cent, the first such move in 5 years.

首套房貸款最低首付比例也從30%降至25%，爲5年來首次下調。