China Housing


House prices expand at fastest pace in 17 months in June

House prices in 70 large- and medium-sized cities rose 0.4% 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). June’s reading was above the 0.2% increase recorded in the previous month and marked the largest expansion since January 2014. According to the NBS, the sales prices of newly-constructed residential buildings declined in 34 cities, increased in 27 cities and that of 9 cities remained flat.

On an annual basis, house prices declined 4.9% in June, which was above the 5.7% drop tallied in May and, thereby, marked a six-month high. Nevertheless, as a result of the continued downward trend in prices observed since the start of 2014, annual average variation in house prices fell from minus 2.8% in May to minus 3.5% in June.

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China Housing Chart

China House Prices June 2015

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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