中国10月房价止跌企稳 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.

根据中国国家统计局(NBS)的数据，中国住宅价格终于在下跌一年多后企稳。

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.

根据路透(Reuters)的计算，今年10月份，中国70个大中城市的新建住宅价格平均同比上涨0.1%，9月、8月和7月分别为下跌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，新房价格曾经创纪录的下跌6.1%，为自2011年开始编制该数据以来最大跌幅。

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.

数据企稳突显出自今年夏初以来的资产配置变动，当时中国股市暴跌五分之二，促使投资者将资金投入房地产领域。

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

新房价格平均环比上涨0.2%，为连续第6个月上涨。

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.

一线城市继续引领涨势。实际上，在70个大中城市中，只有27个城市的房价较上月出现上涨，而9月、8月和7月的上涨城市数量分别为39个、35个和31个。

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.

上海房价同比上涨10.9%，9月为上涨8.3%。北京房价同比上涨6.5%，9月为上涨4.7%。深圳房价更是同比上涨39.9%，9月为上涨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价。过去12个月，中国央行(PBoC)6次降息。另外，9月，政府补贴的住房公积金贷款二套房首付比例从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.

首套房贷款最低首付比例也从30%降至25%，为5年来首次下调。