China: Growth in house prices falls to nine-month low in January
House prices in 70 large- and medium-sized cities rose 0.6% in January 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 December’s 0.8% increase and marked the weakest pace since April 2018. According to the NBS, the sale prices of newly constructed residential buildings increased in 58 cities (59 in December).
House prices rose 10.0% annually in January, up from a 9.7% increase in December and the strongest print in over one year. Annual average growth in house prices increased from 6.5% in December to 6.9% in January, a nearly one-year high.