Experts: Stabilization of land, home prices is very likely prospect

Fewer cities reported price hikes in new and pre-owned homes in June from the previous month, suggesting that the target of stabilizing land and home prices is achievable, said experts.

A total of five cities saw their new home prices decline in June, up from two in May, and the trend is more apparent in the secondary market as 20 out of China's 70 major cities tracked by the National Bureau of Statistics (NBS) reported price declines in pre-owned homes from the previous month in June.

Liu Jianwei, a senior statistician at the NBS, gave the credit to firm stance of the central government in combating speculation in housing market, and local governments' strict measures in stabilizing land prices, home prices and market expectations.