Not off the boil

Chinese authorities' regulatory restrictions to cool the housing market appear to be having little impact on property prices.

Latest figures show that the average price of new homes in 70 Chinese cities rose by 0.3% in the month of February following four straight months of decline.

This sparked last Friday's (17 March) directive from Beijing's municipal government - that lifted the down payment for second home purchases by 10 percentage points to around 60%-80% -- as the Politburo would have known the numbers in advanced. Beijing property prices increased by 22.1% in the year to February while those in Shanghai and Shenzhen rose by 21.1% and 13.5%, respectively.

Then again, there's still a bit of good news. The annual rate of change in the average price of new homes in the 70 Chinese cities have slowed to 11.8% last month, the third straight month of easing prices since the 12.6% peak recorded in November last year.

Read more: BeijingPolitburoShanghaiShenzhen
Editor's Choice
Industry super thought leaders have urged the sector to harness the power of the collective and collaborate more closely on problem solving to ensure longevity and continued member engagement.
Citi is expanding its wealth management business with four new hires.
ASIC's investigation into CommInsure found no evidence of claims managers applying pressure on medical staff to change assessments, although the regulator said claims handling fell short of community expectations.
AZ Sestante, a subsidiary of Italian wealth management firm Azimut Holdings, recently entered the Australian market by launching three new funds on the Colonial First State platform.
Brought to you by
1 MAR 2017
A highly agile and active asset allocation approach requires skill, experience and discipline. Led by Michael O'Dea, Perpetual's Multi Asset team has just that; with an average 17 years' judgement and ...
Get it Daily
Keep up to date, don't be the last to know! Get the Financial Standard Daily Newsletter.
Pocket investment guides featuring adviser case studies and a glossary.
Investing trends and strategies from the industry’s thought leaders.
Putting the spotlight on investment products that matter.
Expert Feed
Christopher Page
A new era
After years of back and forth, the legislation to increase the professional standards of financial advisers has been passed. The new ...
Stephen Fay
Starting at the insurance base camp with focus on value
Insurance can be a complex beast, but in a period where its reputation may be strained it is all the more important to talk of some ...
Christopher Page
Redefining the family office
While the family office model has traditionally been the preserve of the ultra-rich, this may be changing very soon. Last week, Findex ...
Michelle Baltazar
Like rocket fuel to a Spaceship
When a superannuation fund calls itself a Spaceship and nobody bats an eyelid, you know you're entering a new era in retirement investing. Spaceship's ...
Featured Profile
Professional Subscription for $295
(inc GST) for 1 year.
FS Advice
The Australian Journal of Financial Planning.
Get the free iPad app
Download the Financial Standard iPad app for FREE.
Link to something eV7c6wat