China Housing December 2016

China

China: Gains in house prices moderate again in December

January 18, 2017

House prices in 70 large- and medium-sized Chinese cities rose 0.3% in December from 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 below the 0.6% increase observed in the previous month and marked a 12-month low. According to the NBS, the sale price of newly-constructed residential buildings declined in 18 cities, increased in 46 cities and remained flat in 5 cities.

House prices rose 12.4% annually in December, which was slightly below November’s record-high of 12.6%. In the full year 2016, house prices rose 7.2%, which contrasted the 3.2% decline in 2015.

The implementation of home purchase restrictions and higher mortgage down payments by the end of September and early October in some top-tier cities is causing house prices to decelerate.


Author: Ricard Torné, Lead Economist

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China House Prices December 2016

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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