China Housing July 2016


Growth in house prices stabilizes in July

House prices in 70 large- and medium-sized cities rose 0.8% in July 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 was in line with the result tallied in the previous month. According to the NBS, the sales prices of newly-constructed residential buildings declined in 16 cities, increased in 51 cities and remained flat in 3 cities.

Compared to the same month of the previous year, house prices jumped 7.9% in July. The print came in above the 7.3% increase tallied in June and thereby marked the fastest expansion since February 2014. As a result of the continued upward trend in prices that has been observed since May 2015, annual average variation in house prices in July rose from 2.3% in June to 3.2%, which represented a 20-month high.

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China House Prices July 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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