City skyline in China

China Housing June 2020

China: Growth in house prices accelerates in June

House prices in 70 large- and medium-sized cities increased 0.6% in June in month-on-month terms according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS). The print exceeded the 0.5% rise in May. According to the NBS, the sale price of newly constructed residential buildings increased in 61 of the 70 cities (57 in May).

House prices increased 4.9% annually in June, matching May’s result. Annual average growth in house prices fell from 7.2% in May to 6.7% in June.

Putting June’s reading in context, Ting Lu, Lisheng Wang and Jing Wang, economists at Nomura, noted:

“Recently announced tightening measures by some local housing authorities, including in Shenzhen and Ningbo, reflected rising policymaker concerns over a potential property bubble. However, the absence of the property sector in Beijing’s demand stimulus package could prolong the path to a full economic recovery.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen