China: Growth in house prices decelerates in September
House prices in 70 large- and medium-sized cities rose 0.9% in September in month-on-month terms according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). The print was down from August’s 1.4% increase and represented the lowest reading in four months. According to the NBS, the sale prices of newly constructed residential buildings increased in 64 cities (67 in August).
House prices rose 7.9% annually in September, up from a 7.0% increase in August and the strongest print in nearly two years. Annual average growth in house prices inched up from 5.4% in August to 5.5% in September.