Chinese house prices rose at the fastest pace fortwo years in April, despite accentuated oversupplyafter investment poured into the constructionsector in the first quarter.
4月份，中國房價以兩年來最快的速率上漲，只管本年首季度投資湧入修建行業後住房供給多余有所加重。
The price of new residential buildings rose 6.2 percent in the year to April, according to a Reutersindex calculated from data released by the NationalBureau of Statistics.
路透社(Reuters)依據中國國度統計局(NBS)宣布的數據盤算得出的指數表現，在停止4月份的一年裏，中國新建室廬發賣價錢上漲了6.2%。
At the same time, investment in real estate construction in the first four months of this yearrose 7.2 per cent compared with the same period last year.
現在歲首4個月的房地產扶植投資同比增加了7.2%。
In spite of vast inventories of unsold properties, house prices in China’s second and third-tiercities have started to close the gap with the country’s “first-tier” cities of Beijing, Shanghai,Guangzhou and Shenzhen.
只管未售住房庫存宏大，但中國二三線都會與北京、上海、廣州和深圳這些“一線都會”的房價差距已開端收窄。
Earlier this year the government launched a campaign to persuade rural migrants to settle insecond and third-tier cities. For those migrant workers without an urban hukou (householdregistration), buying a house in the city is a route to securing city-standard schooling for theirchildren.
本年早些時刻，中國當局提議了一場勸告農人工在二三線都會假寓的活動。對那些沒有都會戶口的農人工而言，在城裏買房可為他們的孩子供給一個機遇、享受都會尺度的黌舍教導。
“Average prices continue to increase month on month but a new trend has emerged: the rateof increase is slowing in first-tier cities and picking up in second and third-tier cities,” wrote LiuJianwei, of the National Bureau of Statistics.
國度統計局都會司高等統計師劉建偉表現：“環比上漲都會個數持續增長，都會間漲勢湧現新變更，一線都會漲幅放緩，二、三線都會漲幅擴展。
“Year on year . . . average prices in third-tier cities are now rising rather than falling.”
“同比……三線都會由降轉升。”
The government has turned to the construction sector to provide stimulus in tricky times,leading to concerns of property oversupply, particularly in less desirable second and third-tiercities.
面臨艱苦的經濟情勢，中國當局已轉而乞助修建行業來供給刺激，這使得人們擔憂，房地產市場會供給多余，特別是在需求不那末興旺的二三線都會。
As a result, local governments in those cities face a tricky combination of tasks: they mustreduce unsold stock yet maintain prices and economic growth. New house builds in such citiessurged in March, suggesting local governments were prioritising growth over inventoryreduction.
其成果是，這些都會之處當局面對著一對辣手的義務：它們必需去庫存，同時還要保持住房價和經濟增加。3月份，這些都會的新建室廬數目大幅增長，解釋處所當局優先斟酌的是經濟增加而非去庫存。
“Credit is easily available, meaning mortgages are still cheap,” said Rosealea Yao of GavekalDragonomics, an economics consultancy. “It is difficult to say what effect the increase in newhousing starts will have on prices. Although residential properties take around two years tobuild, roughly 70 per cent of houses are sold before completion.
“信貸很輕易得到，象征著按揭貸款仍然廉價，”經濟咨詢機構龍洲經訊(Gavekal Dragonomics)的咬麗薔(Rosealea Yao)說，“很難說新室廬動工數目的增加會給價錢帶來甚麽影響。只管室廬建成須要2年上下的時光，但約莫70%的屋子在落成前就售出了。
“There is huge regional divergence — inventories are coming down in the east, pushing upprices, while inventories are still huge in the north.”
“地域差別很大——東部地域的庫存在削減，推高了價錢，北部地域的庫存仍然很大。”
Despite an increase in supply, second and third-tier cities have managed to boost home pricegrowth, with bigger rises recorded in April than the previous month.
只管供給增長，二三線都會仍勝利提振了房價的漲勢，4月份的房價漲幅高於3月份。
First-tier cities have seen rapid price rises, with Shenzhen, for example, recording a 63 percent increase in the year to April. Shanghai, Shenzhen and Beijing have implemented policies tocool price rises including increasing the downpayment requirement on mortgages on secondhomes and expanding restrictions that increase the waiting times for prospective buyerswithout local hukou registration.
一線都會房價快速上漲。以深圳為例，在停止4月份的一年中，深圳房價上漲了62%。上海、深圳和北京已實行政策給房價降溫，包含進步二套房按揭首付款下限，和延伸無本地戶口的潛伏購房者的期待期。
Such cooling policies appear to have started paying off, with April’s monthly increase in prices ofnew properties on tier-one cities lower in April than in March.
這種給樓市降溫的政策仿佛已初見結果，4月份一線都會新建室廬價錢的月漲幅要低於3月份。
On Wednesday 21st Century Finance, a domestic newspaper, reported that the city of Suzhouin Jiangsu province would become the first second-tier city to bring in housing purchaserestrictions.
中國海內報紙《21世紀經濟報導》周三報導，江蘇省姑蘇市將成為首個出台衡宇限購辦法的二線都會。
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