China: Growth in house prices inches down in December
House prices in 70 large- and medium-sized cities rose 0.8% in December 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 November’s 0.9% increase. According to the NBS, the sale prices of newly constructed residential buildings increased in 59 cities (63 in November).
House prices rose 9.7% annually in December, up from an 9.3% increase in November and the strongest print in over one year. Annual average growth in house prices increased from 6.1% in November to 6.5% in December.