China Housing June 2016


Growth in house prices hits four-month low in June

House prices in 70 large- and medium-sized cities rose 0.8% in June over the previous month, according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). The print undershot the 0.9% increase tallied in the previous month and marked the lowest reading in four months. According to the NBS, the sales prices of newly-constructed residential buildings declined in 10 cities, increased in 55 cities and remained flat in 5 cities.

Compared to the same month of the previous year, house prices jumped 7.3% in June. The print came in above the 6.9% increase tallied in May and thereby marked the highest level in over two years. As a result of the continued upward trend in prices that has been observed since May 2015, annual average variation in house prices in June rose from 1.2% in May to 2.3%, which represented an 18-month high.

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China House Prices June 2016 0

Note: Month-on-month changes of the price index of newly constructed residential buildings in 70 large and medium cities and year-on-year variation in %. The index is calculated as a weighted average based on the population of the 70 cities.
Source: National Bureau of Statistics of China (NBS) and Thomson Reuters.

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