Multi-factors push up housing price, official

A spokesman from the National Bureau of Statistics (NBS) said here Friday that multi-fators have pushed up the housing price.

Statistics show that the prices of housing and residential housing in the first nine months recorded increases of 13.4 and 11.5 percent respectively over the same period last year.

Zheng Jingping, the spokesman, made the remarks at a press conference organized by the State Council Information Office.

Zheng described the demand of housing as "very strong," which is the main reason for the increase of the housing price.

In the first months, the housing areas that have been sold increased 19.3 percent, 9.8 percentage point more than that of the completed housing areas of the same period of time.

The price increase is also related with the increase of the cost of land and up-stream products, he said.

Since April, the central government has tightened its control on the use of land. According to the Economic Information Daily, China's land price increased 11.6 percent year-on-year in the third quarter, up 1.3 percent over the second quarter.

Cost of the up-stream products, especially building materials, and the cost of labor force have also increased, he added.

Changes of the quality and structure of the housing is another reason leading to the increase.

Among the housing areas that have been sold, areas of residential housing decreased while areas of business housing increased.

Zheng said it is not a good matter that the housing price increases and the government will pay close attention to the trend of the price to prevent a fast increasing rate.