Prices of new homes hit an upward track

The average new-home price in China has risen for the first time since April, rebounding earlier than expected, as a private housing researcher found last month that new-home prices in an increasing number of the 100 cities it tracks had increased.

The average new-home price for 100 cities rose 0.21 percent in January over the previous month, according to the China Index Academy, the research branch of SouFun Holdings Ltd.

That compared with a 0.44 percent month-on-month fall in December. It was also the first time that the average price rose after eight consecutive months of decline last year, indicating that after three months of housing sale increases, the price has hit an upward track.