China: Growth in house prices hits four-month low in June
July 18, 2016
House prices in 70 large- and medium-sized cities rose 0.8% 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). The print undershot the 0.9% increase tallied in the previous month and marked the lowest reading in four months. According to the NBS, the sales prices of newly-constructed residential buildings declined in 10 cities, increased in 55 cities and remained flat in 5 cities.
Compared to the same month of the previous year, house prices jumped 7.3% in June. The print came in above the 6.9% increase tallied in May and thereby marked the highest level in over two years. As a result of the continued upward trend in prices that has been observed since May 2015, annual average variation in house prices in June rose from 1.2% in May to 2.3%, which represented an 18-month high.